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CA Final Prevention of Oppression and Mismanagement — practice questions — page 2

Explore 61 free Prevention of Oppression and Mismanagement questions in CA Final Law. Open each question or exercise to read its content, reference answers and available explanation.

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Prevention of Oppression and Mismanagement questions and exercises with answers

Showing questions 31–60 of 61.

Without share capital, s.244(1)(b) needs what fraction of members?Read the answer and worked solution →Who may waive the s.244(1) numerical requirements on application?Read the answer and worked solution →Under s.244, shares held jointly by two persons count as how many members?Read the answer and worked solution →Under s.244(2), a representative applicant needs what from the others?Read the answer and worked solution →Section 245 provides for which kind of proceeding?Read the answer and worked solution →Besides members, who may file a s.245 class action?Read the answer and worked solution →Which order can a class action seek under s.245(1)(a)?Read the answer and worked solution →A class action can void an alteration resolution obtained by what?Read the answer and worked solution →Section 245(1)(g)(ii) permits damages claims against whom?Read the answer and worked solution →For misleading audit report claims, liability falls on the firm and whom?Read the answer and worked solution →Section 245(3)(ii) depositor threshold, or prescribed percentage if lower?Read the answer and worked solution →Under s.245(4)(a) the Tribunal must see if the applicant acts in what?Read the answer and worked solution →On admission of a class action, what must be served on all class members?Read the answer and worked solution →If class members cannot agree, who appoints the lead applicant (s.245(5)(b))?Read the answer and worked solution →Under s.245(5)(c), how many class actions on one cause are allowed?Read the answer and worked solution →Class action costs under s.245(5)(d) are defrayed by whom?Read the answer and worked solution →A Tribunal order under s.245 binds the company, members and whom else?Read the answer and worked solution →Maximum jail term for an officer failing to comply with a s.245 order?Read the answer and worked solution →A frivolous class action is rejected with costs not exceeding what?Read the answer and worked solution →Section 245 does not apply to which type of company?Read the answer and worked solution →Section 246 applies which sections to proceedings under ss.241 and 245?Read the answer and worked solution →Under s.213(a)(i), how many members can seek an investigation order?Read the answer and worked solution →A s.213 investigation can follow business conducted to do what?Read the answer and worked solution →Under s.213(b)(iii), members lacking what is a ground for investigation?Read the answer and worked solution →Section 339 liability for fraudulent business arises at what stage?Read the answer and worked solution →A s.339 declaration makes the person liable to what extent?Read the answer and worked solution →Section 339(3) attracts action under which section?Read the answer and worked solution →Section 341 extends ss.339 and 340 to whom in a firm?Read the answer and worked solution →Section 340 applies even if the matter involves what liability?Read the answer and worked solution →Chapter XVI of the Companies Act 2013 deals with what?Read the answer and worked solution →

Worked practice questions

Without share capital, s.244(1)(b) needs what fraction of members?

  1. One-tenth
  2. One-fifth
  3. One-third
  4. One-half
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Correct answer: B. One-fifth

For a company with no share capital, not less than one-fifth of the total members may apply.

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Who may waive the s.244(1) numerical requirements on application?

  1. Registrar of Companies
  2. The Tribunal itself
  3. The Central Government
  4. The Board of Directors
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Correct answer: B. The Tribunal itself

The proviso lets the Tribunal waive the requirements of clause (a) or (b) so members can apply under section 241.

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Under s.244, shares held jointly by two persons count as how many members?

  1. Not counted at all
  2. Counted as one member
  3. Counted as two
  4. Half a member each
Show answer and solution

Correct answer: B. Counted as one member

The Explanation counts jointly held shares as one member only.

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