1/13/24, 4:25 PM CPA company law
INSTITUTE OF CERTIFIED
PUBLIC ACCOUNTANTS
OF RWANDA
Study Manual
2nd edition February 2020,
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,1/13/24, 4:25 PM CPA company law
about:blank 2/86
,1/13/24, 4:25 PM CPA company law
Table of contents
Section title page
0 Introduction to the course 9
Stage: intermediate level 10
1 Natureandclassificationofcompanies 14
A. Concept of company 15
B. The company as contract 15
C. Shares 16
D. Vocation to profits sharing 16
E. Affectio societatis 17
F. Company as institution 17
G. Forms of business organisation 17
H. Distinction between companies and other business organisations 18
I. Legal status of companies 18
J. Company’s moral personality 19
2 Incorporation,capacityandfunctionningofthecompany 20
A. Incorporation 21
B. Company’s powers 23
C. Formalities of carrying on business 24
D. The disappearance of legal personality 26
3 Share capital 28
A. For shares and debentures 29
B. Nature and allotment of shares 29
C. Special provisions relating to allotment of shares for private companies 32
A. Shareholders’ general rights 35
B. Liability of shareholders 36
C. Exercise of shareholder powers by regulations 38
D. Shareholders’ meetings and resolutions in lieu of general meeting 38
CPA EXAMINATION I1.3 Company Law A 3
STUDY MANUAL
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4 Managementandadministration 41
A. Company record keeping 42
5 Capital structure 50
A. Shareholdings in the company 51
B. Acquisition by a company of its own shares 51
C. Redeemable shares 52
A. Alteration of incorporation 54
B. Amalgamation 55
6 Corporate insolvency 58
A. The disappearance of legal personality 59
B. Winding up by the courts 61
C. Voluntary winding up 61
D. Liquidators: appointment and duties 62
E. Release of liquidators 62
Prescription or limitation of time 63
7 Alternativestowindingup 64
A. Reconstruction 65
B. Amalgamation, mergers and take-overs 65
C. Schemes of arrangement 66
D. Rights of shareholders 66
E. Rights of creditors 66
8 Foreigncompanies 67
A. Definition 68
B. Registration of foreign companies 68
C. Obligations applicable to foreign companies 68
D. Cessation of foreign company activities 68
4 I1.3 Company Law CPA EXAMINATION
STUDY MANUAL
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INSTITUTE OF CERTIFIED
PUBLIC ACCOUNTANTS
OF RWANDA
Study Manual
2nd edition February 2020,
about:blank 1/86
,1/13/24, 4:25 PM CPA company law
about:blank 2/86
,1/13/24, 4:25 PM CPA company law
Table of contents
Section title page
0 Introduction to the course 9
Stage: intermediate level 10
1 Natureandclassificationofcompanies 14
A. Concept of company 15
B. The company as contract 15
C. Shares 16
D. Vocation to profits sharing 16
E. Affectio societatis 17
F. Company as institution 17
G. Forms of business organisation 17
H. Distinction between companies and other business organisations 18
I. Legal status of companies 18
J. Company’s moral personality 19
2 Incorporation,capacityandfunctionningofthecompany 20
A. Incorporation 21
B. Company’s powers 23
C. Formalities of carrying on business 24
D. The disappearance of legal personality 26
3 Share capital 28
A. For shares and debentures 29
B. Nature and allotment of shares 29
C. Special provisions relating to allotment of shares for private companies 32
A. Shareholders’ general rights 35
B. Liability of shareholders 36
C. Exercise of shareholder powers by regulations 38
D. Shareholders’ meetings and resolutions in lieu of general meeting 38
CPA EXAMINATION I1.3 Company Law A 3
STUDY MANUAL
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, 1/13/24, 4:25 PM CPA company law
4 Managementandadministration 41
A. Company record keeping 42
5 Capital structure 50
A. Shareholdings in the company 51
B. Acquisition by a company of its own shares 51
C. Redeemable shares 52
A. Alteration of incorporation 54
B. Amalgamation 55
6 Corporate insolvency 58
A. The disappearance of legal personality 59
B. Winding up by the courts 61
C. Voluntary winding up 61
D. Liquidators: appointment and duties 62
E. Release of liquidators 62
Prescription or limitation of time 63
7 Alternativestowindingup 64
A. Reconstruction 65
B. Amalgamation, mergers and take-overs 65
C. Schemes of arrangement 66
D. Rights of shareholders 66
E. Rights of creditors 66
8 Foreigncompanies 67
A. Definition 68
B. Registration of foreign companies 68
C. Obligations applicable to foreign companies 68
D. Cessation of foreign company activities 68
4 I1.3 Company Law CPA EXAMINATION
STUDY MANUAL
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