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    Zambian Open University School of Law End of Semester I 2021 Exams

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    CHIMO

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    Zambian Open University School of Law End of Semester I 2021 Exams

    Uploaded by

    CHIMO
    105 views2 pages

    Original Title

    Company Law (1)

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    105 views2 pages

    Zambian Open University School of Law End of Semester I 2021 Exams

    Uploaded by

    CHIMO

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    ZAMBIAN OPEN UNIVERSITY

    SCHOOL OF LAW
    END OF SEMESTER I 2021 EXAMS

    COURSE CODE LL324 – COMPANY LAW


    INSTRUCTIONS: This paper consists of six questions. Answer
    QUESTION ONE AND ANY THREE questions.
    CONCESSIONS: Companies Act No. 10 of 2017 and the Corporate Insolvency Act
    No. 9 of 2017

    TIME/DATE : 31st May-4th June


    QUESTION ONE - Compulsory

    (a) Mapulanga Company Limited is a vibrant company that has been doing fine for the last 20
    years until now. One of the issues that has been seen is the appointment of Simbotwe, a
    college drop out to be among the directors of the company. Simbotwe did not have any
    knowledge of managing a company. This was seen when he contracted a huge loan from a
    named bank which is now pressing for its money from the company. It has been realized that
    Mapulanga Company Limited is financially distressed and needs immediate help. A careful
    check on its assets shows it is worth ZMW 2, 000, 000 while a careful investigation reveals
    that its liabilities stand at ZMW 8,000,000.

    You have been retained as an expert in this field and your skill is needed herein. With the aid
    of statutory authority, explain how you would advice the above company to proceed.
    (17
    Marks)

    QUESTION TWO

    With the aid of practical examples, discuss the incorporation procedure under the Companies Act
    No. 10 of 2017. (11 Marks)

    QUESTION THREE

    It has been said that once a company has been incorporated, it stands distinct from its members
    as it would have obtained certain characteristics. With the aid of examples, explain the effects of
    incorporation. (11 Marks)

    QUESTION FOUR
    The provisions of the Companies Act No. 10 of 2017 stand out well especially with the modern
    problems that have been faced.

    Critically analyze the provisions of section 86 and 87 of the Companies Act No. 10 of 2017.
    (11
    marks)

    QUESTION FIVE

    The Corporate Insolvency Act No. 9 of 2017 has its prominent fantastic provision that has seen a
    shift and an improvement from the repealed Companies Act Chapter 388. Among the notable
    aspect is the introduction of business rescue proceedings to add to the theory of receivership and
    liquidation. With the aid of authority, explain the process of business rescue proceedings and
    state whether it can be commenced when the company has been placed under liquidation. (11
    marks)

    QUESTION SIX

    Give an eye bird’s view on the differences between the Companies Act Chapter 388 and
    Companies Act No. 10 of 2017 and assert any achievements if any. (11 marks)

    QUESTION SEVEN

    You have been told that Zambian Open University is a private company limited by shares and
    has 50 members and that its articles only provide for 50 members and 2 directors. The company
    feels that they need to add 15 more members and 5 more directors but they have failed because
    their articles restrict the same.

    You have been retained as company lawyer to provide a suitable advice. Explain to the company
    what is needed for the desired of the company to be achieved. (11 marks)

    END OF EXAM

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