【论述题】
Explain the legality of the dividend payment
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.
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【论述题】
State the offence of money laundering.
State whether Gloria has any liability for money laundering.
State whether Vlad has any liability for money laundering.
【论述题】
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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