LPC Law Notes Business Law and Practice Notes
A collection of the best LPC BLP notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".
In short these are what we believe to be the strongest set of Business Law and Practice notes available in the UK this year. This collection of notes is fully updat...
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Company Law – Private Limited Companies
Maintenance of share capital
Principle of MSC | Capital must be maintained, as it is the fund to which the creditors look for payment of debts owed to them. Paid up shares must not be returned to its shareholders, and their liability in respect of capital not paid up on shares must not be reduced. Unauthorised return of capital to shareholders is ultra vires. |
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Consequences: |
S.658: a limited company must not generally purchase its own shares. It is offence committed by the company and all its officers. Penalties set out. General principle: Cannot buy back from Shareholders wishing to give back their investment. SH must sell on to other investors. Capital must be available for creditors. |
Exceptions |
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Exception 1: Buying back shares by the company 9.5 [GURU notes for procedure] |
Procedure of buy-back: (off-market shares) –
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Buy back out of profit | 1. Checks:
2. Funding can only pay for shares out of:
3. Board Meeting
4. Hold General Meeting
5. Board meeting
6. File a return to Companies House
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Buy the full version of these notes or essay plans and more in our Business Law and Practice Notes.
A collection of the best LPC BLP notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".
In short these are what we believe to be the strongest set of Business Law and Practice notes available in the UK this year. This collection of notes is fully updat...
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