題目
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?In 20X5 two newspaper companies, Kudos Ltd and Lux Ltd, entered into an agreement in an attempt to?safeguard their independent positions. Under the agreement, Kudos Ltd purchased 20% of Lux Ltd's?preference shares which carry a preferred dividend of 10%.?

The board of directors of Lux Ltd have recently become disenchanted with their link with Kudos Ltd and?want encourage Kudos Ltd to sell its preference share in the company. To do this, the board of Lux Ltd?proposes to reduce the dividend on all preference shares to 5%.?

29

【論述題】

?State what is meant by the term class rights?

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考點(diǎn)：Chapter15Sharecapital

?A company's shares confer certain rights on the members who own them. Where only one type of share?exists the rights are normally the same, however different types of share will often confer different rights.?For example preference shares usually entitle the member to a fixed dividend with priority of payment over?ordinary shares and priority over the repayment of capital (ahead of ordinary shares) in the event of a?liquidation. Other class rights may attach regarding voting or the right to remove a director. Any share that?has different rights from others is grouped with the other shares carrying identical rights to form a class.?

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Vlad generates a substantial income from illegal tax evasion and sought advice from Gloria (his personal accountant) on how to dispose of his illegal earnings. Gloria suggested that to disguise the source of the funds, Vlad should purchase a chain of restaurants and pass his gains from the illegal operation through the restaurants' accounts. Vlad agreed with Gloria’s proposal and appointed her as the restaurant chain’s finance director and together they passed the illegal money through the operation.

25

【論述題】

State the offence of money laundering.

State whether Gloria has any liability for money laundering.

State whether Vlad has any liability for money laundering.

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In January the board of directors of Huge plc decided to make a takeover bid for Large plc. After the decision?was taken, but before it is announced, the following chain of events occurs:?

(1) Slye, a director of Huge plc, buys shares in Large plc?

(2) Slye tells his friend Mate about the likelihood of the takeover and Mate buys shares in Large plc?

(3) At a dinner party Slye, without actually telling him about the takeover proposal, advises his brother?Tim to buy shares in Large plc and Tim does so?

28

【論述題】

?State whether Slye committed insider dealing when he bought shares in Large plc?

?State whether Mate has any liability for insider dealing?

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