題目
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?Dee and Eff are major shareholders in, and the directors of, Fan Ltd. For the year ended 30 April 20X8 Fan?Ltd's financial statements showed a loss of ￡2,000 for the year and no profits were carried forward. For the?year ended 30 April 20X9 Fan Ltd made a profit of ￡3,000. Also, due to a revaluation, the value of its land?and buildings increased by ￡5,000. As a consequence, Dee and Eff recommended, and the shareholders?approved, the payment of ￡4,000 in dividends.?

28

【論述題】

?Explain the legality of the dividend payment?

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考點：Chapter17Capitalmaintenanceanddividendlaw

?Only accumulated profit is a distributable reserve out of which dividends may be paid. In Fan Ltd's case the?total is ￡3,000 for the year and no profits were brought forward from previous years. The profit on?revaluation of land and buildings is credited to the revaluation reserve, not to the profit and loss reserve and?is not distributable.??

For the year in question, ￡4,000 was paid as a dividend. The payment would only be legal if the company?had accumulated realised profits equal to or greater than ￡4,000. The company only had ￡3,000 and?therefore the payment is illegal.?

多做幾道

材料全屏

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.

材料全屏

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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