Company Law

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THIS PAPER IS NOT TO BE REMOVED FROM THE EXAMINATION HALLS

UNIVERSITY OF LONDON

266 0021 ZA 277 0402 ZA

LLB EXAMINATION for External Students

PARTS I AND II EXAMINATIONS (Scheme A) THIRD AND FOURTH YEAR EXAMINATIONS (Scheme B) GRADUATE ENTRY LEVEL II (Route A) GRADUATE ENTRY THIRD YEAR (Route B)

BSc DEGREES for External Students MANAGEMENT WITH LAW, LAW WITH MANAGEMENT, ACCOUNTING WITH LAW AND LAW WITH ACCOUNTING FOR STUDENTS IN THE EXTERNAL PROGRAMME

Company Law

Monday 2 June 2008: 2.30 – 5.45 pm

Candidate will have fifteen minutes during which they may read the paper and make rough notes ONLY in their answer books. They then have the remaining THREE HOURS in which to answer the questions.

Candidates should answer FOUR of the following EIGHT questions, including at least ONE from Part A and at least TWO from Part B.

Candidates should answer all parts of a question unless otherwise stated.

© University of London 2008 UL08/969 Page 1 of 4

PART A 1. ‘The reform of directors’ duties which has culminated in the new section 172 of the Companies Act 2006 represents a clear and welcome acknowledgement that the interests of a company’s shareholders cannot be allowed to triumph over the interests of other stakeholders in the company.’ Discuss.

2.

Does UK company law serve the needs of both public and private companies?

3.

‘It is so clear that non-executive directors make such an essential contribution to good corporate governance that the law should be changed to require all listed companies to have a majority of such directors on their boards.’ Discuss.

4.

‘The articles and the memorandum form a contract between the company and its members.’ Discuss.

UL08/969 Page 2 of 4

PART B

5.

Alan is a director of Easyways Plc, and owns 10% of the company’s shares. The company hopes to secure a large contract from Partyco Plc. If it does, it will need some new machinery. Alan and his wife, Belinda, own all the...
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