Which of the following is NOT a reason for winding up a company?

Here are the answers to the questions:

12. A decision of a company to increase its Share Capital is done by a special resolution. This is because altering the share capital is a significant change to the company's structure.

• The correct option is b).

13. A Poll may be demanded by members & proxies only. Both registered members and their appointed proxies have the right to demand a poll vote at a company meeting.

• The correct option is c).

14. The only company that can hold Statutory Meetings is a Company quoted on stock Exchange. Statutory meetings are a requirement for public companies, which are typically those quoted on a stock exchange.

• The correct option is c).

15. The instrument used to pay Dividends due on profit to members of a company is a dividend warrant. This is a document that entitles the shareholder to receive the dividend payment.

• The correct option is c).

16. A petition for winding up by the Court is presented on the passing by the company of a special resolution that the company be wound up by the court. This is one of the grounds for a compulsory winding-up order by the court.

• The correct option is a).

17. The question is incomplete. It asks for means by which a person can become a member of a company, Except, but the options are missing.

18. A director of a Public Company should retire at the end of the AGM following his/her 70th birthday. This is a common age limit for directors of public companies in many jurisdictions, unless the company's articles of association state otherwise or a special resolution is passed.

• The correct option is b).

19. Where a case of Breach of agency has been established, the remedies available to the Principal include action for conversion, action for account, and rescission and damages. The right of lien is typically a right held by the agent, not a remedy for the principal against the agent for breach.

• The correct option is d).

20. The principle that an insured cannot make a profit by claiming separately from multiple insurers for the same loss (double insurance) is a fundamental aspect of the principle of indemnity in insurance law. The case that is foundational in defining what constitutes a contract of insurance and underpins the principle of indemnity (no profit from loss) is Prudential Insurance Company V I.R.C (1904).

• The correct option is b).