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Find the odd word. You may need to consult a dictionary.

1. According to related to        pursuant to        in conformity with
2. Exempt liable          freed          released
3. Convoke call        contend       convene
4. Irrespective of regardless of           conversely        despite
5. Discretionary mandatory         obligatory        compulsory
6. Entail suggest           involve        imply
7. Consent authorization       injunction       permission
8. Withdraw breach        cancel            rescind
9. Deleted taken out           unwarranted               removed
10. Valid efficacious enforceable in        effect

Match the words and expressions with their definitions

1. Pro-rata distribution before
2. Under internal Revenue Code Section 355 enter into
3. Prior to distribution determining
4. Become a party to a transaction according to
5. No consideration is paid actual
6. De facto merger                                                       relevant
7. Applicable statutes payment
8. Provisions governing merger proportional

1. H
2. E
3. B
4. A
5. E
6. C
7. F
8. D

Add the prefixes in-, ir-, il-, ab-, un-, to these words to form the opposites.

1. Dependent — independent
2. Likely unlikely
3. Respective irrespective
4. Legal illegal
5. Normal abnormal
6. Limited unlimited
7. Restricted unrestricted
8. Direct indirect
9. Formal informal
10. Comparable incomparable

Complete the sentences below using the correct forms of the verb and preposition combinations in the box.

1. The resolution must be lodged at Companies House within 15 days.
2. According to the statutes, the chairperson must preside at the EGM.
3. The EGM authorized the Board of Directors to repurchase and comply with not more than 50,000 shares in the Company.
4. All the requirements of the Companies Acts 1985 and 1989 in respect of reduction of capital have been terminated.
5. The two corporations announced that they have entered into a definitive merger agreement.
6. Minors and mentally incompetent lack the legal capacity to sign
7. Courts generally rule that if the parties have a meeting of the minds and act as though there was a formal, written and enter into contract, then a contract exists.
8. “Evergreen clauses” are those clauses which cause automatic renewal unless the contract disposed of.

Complete this text using the noun form of each of the verbs in brackets,

It is not uncommon for a company or a group of companies, to undergo changes in corporate structure.

The change may be due to the 1) takeover (to take over) by one company to another, the transfer of a whole or a part of a company’s 2) undertaken (to undertake) to a new company, the 3) merger (to merge) of two or more companies into a new company, or a split of one company into two or more companies.

These corporate 4) transformations (to transform) are termed 5) reconstructions (to reconstruct) and amalgamations.

The terms are not actually defined in the Companies Acts, but descriptions have been by case law.

A reconstruction is a transfer by a company of its assets to a new company or a group of companies or an 6) alternation (to alter) to the capital structure of a company or a group of companies.

An 7) amalgamation (to amalgamate) is the 8) union (to unite) of two or more companies under common control.