ACCA

Corporate and Business Law

Time periods discussed in this paper

Appointment of two arbitrators 30 D

Appointment of 3rd arbitrator 30 D after the appointment of
first 2 arbitrators.
Challenge the arbitral tribunal 15 D
Challenger asking court for further decision on the challenge 30 D
Challenging the jurisdiction of the arbitral tribunal 30 D
Party asking for additional awards 30 D
Making the additional award by the tribunal 60 D
Protesting the bill for dishonour 4D
Send annual accounts to members and debenture holders Public : 21 D
Private : same day of filing.
Notice of GM 7D
Copies of resolutions and agreements to be submitted to the 15 D
Registrar (including alteration)
Confirmation statement 12 M
Reviewing the case by the adjudicator 90 D
Minority appeals to the court for unfair prejudice 21 D
Registration of charges 21 D
Submission of solvency statement prior to the GM 15 D
Appointment of director – informing to the Registrar 14 D
Appointment of the company auditor – notifying the 28 D
Secretary of the state.
AGM notice 21 D
GM notice to be circulated by the company among members 21 D
GM to be convened by the company 28 D
GM to be convened by the members (if the above did not 21 D
happen)
Ordinary and special resolutions notice 14 D
Written resolution submission default period 28 D
Calling a meeting – prior notice 14 D
Removal or appointment of director / auditor special notice 28 D
Approval of a liquidator 3 D following delivery of the
notice
14 D within passing of the
resolution to wind up
Compulsory liquidation – company unable to pay debts 21 D
within
Notice of administration to be sent to the Registrar 7D
Submission of statutory accounts Public : 6 M
Private : 9 M
GMs in public companies (within_____) 6M
Valuation of non-cash assets – report made to the company 6M
(within______)before the allotment
Members requisitioning a resolution 6W
Submission of administration proposal 8W
Approval of administration proposal 10 W
 Buyers’ right to examine goods 2Y
Maintaining accounting records Private : 3 Y
Public : 6 Y
Director minimum age limit (no maximum limit) 16 Y
Maximum time period for a contracted director 2Y
Disqualification of directors – general 15 Y
Disqualification of director – summary offences and 5Y
persistently in default
Minimum disqualification period Small offense : 2-5 Y
Medium offense : 6-10 Y
Big offense : 10 Y
Appointment as CS – employed as plc’s CS for _____ 3-5 Y
Maintenance of minutes 10 Y
Insider dealing imprisonment 7Y
Money laundering imprisonment Knowingly assisting : 14 Y
Failure to report : 5 Y
Tipping off : 5 Y
Money laundering regulations failure – imprisonment 2Y
Bribery imprisonment 10 Y
Phoenix companies (created within _______ of the original 5Y
company being liquidated)

D – days

M – months

W – weeks

Y – years