題目
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Milly Ltd has recently entered into the following arrangements with its creditors.?(1) A single debenture of ￡15,000 from B Bank that is secured by a charge over Milly Ltd's trade?receivables. Milly Ltd may deal with the trade receivables as it wishes. The charge documentation?describes the charge as a fixed charge.?(2) A single debenture of ￡20,000 from Peppa Ltd secured on Milly Ltd's inventory. A floating charge?was created on 3 March 20X1 and registered on 31 March 20X1.?(3) A single debenture of ￡5,000 from Otto Ltd that is also secured on Milly Ltd's inventory. A floating?charge was created on 10 April 20X1 and registered on 30 April 20X1.?

25

【論述題】

?State whether Milly Ltd is required to keep a register of debenture holders in respect of?the three debentures?

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考點：Chapter17Capitalmaintenanceanddividendlaw

?A company is not required to keep a register of debentureholders unless debentures are issued as a series?or as debenture stock. Neither applies in Milly Ltd's case and therefore no register of debentureholders is?required.?

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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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