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BA4 - Fundamentals of Ethics, Corporate Governance and Business Law Questions 146–150 (page: 31)

Which of the following is correct in relation to the control of boards of directors of public limited companies?

i) The boards of public limited companies are under the legal control of the shareholders

ii) The majority of the shares in public limited companies are held by institutional investors who are more concerned with capital growth and income than the internal management of public limited companies

iii) As a general rule, private investors in the shares of public limited companies have insufficient power to influence the activities of the board.

As a member of the audit team of a large company, J has discovered that one of his close friends is in a part of the business which is going to be sold off, and his friend is likely to face redundancy. What should he do?

Which of the following are recommended by the UK Corporate Governance Code?

(i) The roles of Chairman and Managing Director should be separated

(ii) A senior independent director should be identified and available as a contact for shareholders

(iii) At least one half of the board as a whole should be made up of independent non- executive directors

Which of the following CANNOT be appointed as the sole director of a private company limited by shares?

(i) A person over the age of 70 years

(ii) A person under the age of 16 years

(iii) A private company limited by shares

Which of the following is incorrect in relation to remedies for breach of contract?