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Which of the following is not an equitable remedy for breach of duty?


A) return of property by the directors
B) account of profits
C) rescission of contracts
D) damages

E) C) and D)
F) B) and D)

Correct Answer

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Damages for breach of duty to exercise reasonable care and skill by directors are based on


A) contractual principles
B) tort principles
C) reasonable principles
D) judicial discretion

E) A) and B)
F) A) and C)

Correct Answer

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B

Which of the following is not an available remedy for failing to obtain shareholder approval for specific transactions?


A) the transaction is voidable
B) the director may account to the company for any profits
C) the director may have to indemnify the company
D) the director is disqualified

E) All of the above
F) B) and D)

Correct Answer

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A disqualification order does not prevent a person from


A) being a director of a company
B) acting as a receiver
C) being a company secretary
D) opening a shop

E) B) and C)
F) A) and D)

Correct Answer

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After a breach of duty a director can obtain relief by


A) shareholder ratification
B) court
C) a &b
D) the board

E) A) and B)
F) None of the above

Correct Answer

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Equitable compensation for breach of duty by directors resembles


A) damages in contract
B) damages in tort
C) indemnity
D) insurance

E) A) and B)
F) B) and C)

Correct Answer

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What is a disqualification undertaking?


A) same as a disqualification order
B) an out-of-court procedure
C) a court procedure
D) a promise by directors not to be disqualified

E) A) and D)
F) B) and C)

Correct Answer

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B

Which of the following is prohibited by s.232 Companies Act 2006?


A) having liability insurance for directors
B) indemnifying the director against liability to third parties
C) indemnifying a director of a company who is an occupational pension scheme trustee
D) exempting directors from liability

E) A) and C)
F) C) and D)

Correct Answer

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Which of the following circumstances can result in the disqualification of a director?


A) conviction for an indictable offence relating to a company
B) consistently failing to submit accounts to the registrar of companies
C) conviction for fraudulent trading
D) any of the above

E) A) and C)
F) B) and C)

Correct Answer

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For which of the following issues cannot directors obtain relief from liability?


A) fraud
B) conflicts of interest
C) self-dealing
D) receiving payments from the company

E) C) and D)
F) B) and D)

Correct Answer

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A

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