Securities and Loans

Securities and Loans

1. Shares

   • unit of ownership of a compnay
   • nominal value
     • Commonly £1
     • cost
     • share capital
   • Premium
     • derisability
     • cannot be negative
       • s542
     • Separate account
       • share premium account
   • moveable property
     • s 541
   • types
     • ordinary
     • preference
       • dividends first
     • Cumulative
       • if dividends not paid acuumulates to next pay
     • Redeemable
       • Company buys back
     • Convertible
       • Share>Loan
     • Deferred
       • dividends last
     • Non-Voting
     • Participating
       • acts like ordinary share
   • Transfer
     • Stamp duty 0.5%
   • underlying benefit
     • s793

2. Loans

   • Security
     • Standard Security
     • Floating Charge
       • Pre Sept 2003
         • Receivership
       • Post Sept 2003
         • Administration
     • Pledge
     • Form MG01
       • Register the charge
         • Amendment of Part 25
       • Within 21 days
         • Late Registration
           • s859F