← Lessons 02-Business and Company Law

⭐ Key Exam Numbers to Remember

Topic Number
Minimum members — PLC 2
Minimum directors — PLC 2
Minimum members — private Ltd 1
Minimum directors — private Ltd 1
Minimum PLC nominal share capital £50,000
Private company → PLC shareholder approval 75%
Company name change notification 14 days
Director changes notification 14 days
Private company accounting records 3 years
PLC accounting records 6 years
VAT records 6 years
Statutory demand mentioned in notes £750+
Period after statutory demand mentioned 3 weeks
Bankruptcy debt threshold £5,000
Bankruptcy process mentioned 28 days
PSC shareholding threshold More than 25%
PSC voting-rights threshold More than 25%
Private Ltd auditor turnover threshold in notes £10.2 million
Fraudulent trading imprisonment in notes Up to 10 years