QLTS OSCE List of Important Topics (Business)

Someone sent me a message on Instagram recently, reminding me that I had said in my last post (ages ago) that I would share my notes. I completely forgot about that (mea culpa). I looked back on my notes and realised they’re quite lengthy. I’m not sure if you really want to read and memorise everything I did (if you do, let me know and I’ll type it all up). In the meantime, here’s the list of topics I made notes on and memorised!

Caveat: I created this list for the August 2020 QLTS OSCE based on what I thought were important to know. Please don’t think this is exactly what’s going to come out on your exams. I didn’t memorise the laws word for word (you don’t need to either!), just what it generally says. It’s helpful to have the section numbers and laws off the top of your head, particularly for Part One of OSCE. Note also that there may be updates on the topics, so do make sure to double check!

Note: As I started writing this, I realised how messy and all over the place my notes were (especially probate – not sure what happened there), and I need to organise them first. I will post the rest of the subjects in separate posts and will hopefully be finished by the end of the week! *fingers crossed*

Writing a list on a notebook, coffee and half eaten croissant



  • Important basic information in the Partnership Act 1980 (s. 1(1), 2, 5-9, 17, 20, 21, 25, 29, 30)
  • Partnership Agreement Provisions that relate to a partner’s obligations to the partnership, including conflicts of interest
  • Dissolution (s. 32(c) and 44 PA 1980)


  • Incorporation
  • Allotment of Shares (s. 550, 551, 626, 21 Companies Act 2006)
  • Pre-Emption Rights (s. 569-571, 994 CA 2006)
  • Share for Share Exchange
  • Unfairly Prejudicial (s. 994 CA 2006)
  • Share Sale (including tax on transfer and Stock & Transfer Act 1963, s. 771(1) CA 2006)
  • Business Sale (including assignment or Novation of key contracts, employees [Transfer of Undertakings (Protection of Employment) Regulations 2006], tax on the Business, Liabilities)
  • Appointment of Directors (s. 17(1), 188, 177(6)(c), 307 CA 2006 and Art. 17(1), 48, 14 Model Articles)
  • Substantial Property Transaction (s. 190, 1163, 191, CA 2006 and Art. 11 Model Articles)
  • Share Buy Back (s. 691- 694, 696, 706-708 CA 2006)
  • Loan Guarantee by the Company for a Director (s. 197, 207, 204 CA 2006)
  • Declaration of Interest (s. 177 CA 2006, Art. 14 Model Articles)
  • Bankruptcy of a Director (Art. 18 Model Articles, s. 10-11 Company Directors Disqualification Act 2006)
  • Removal of Directors (and protections) (s. 312, 169, 22 CA 2006)
  • Corporate Governance
  • Annual Filing Requirements
  • Maintenance of Company Records (including s. 248 CA 2006)
  • Publication of Company Name (Parts 6, 24, 25, 28 Company, LLP & Business [Names & Trading Disclosures] Regulations 2015)
  • Change of Name
  • Small Companies Regime
  • Balance Sheet (just the basic contents)
  • Profit & Loss Statement
  • Acid Test
  • Investments: Debt v Equity
  • Types of Financing & Security
  • Borrowings (s. 31, 21, 30, 34, 40, 837 CA 2006, Art. 3 Model Articles)
  • Administration v. Liquidation
  • Voluntary Liquidation
  • Creditors Voluntary Liquidation (including s. 283 CA 2006)
  • Compulsory Liquidation (s. 122(1)(f), 123, 136(2), 188(1) Insolvency Act 1986)
  • Legal Order of Priority for Payment of Debts
  • Wrongful Trading (s. 214 IA 1986)
  • Giving a Preference (s.239 IA 1986)
  • Transaction at an Undervalue (s. 238 IA 1986)
  • Fraudulent Trading (s. 423-425 IA 1986)
  • Penalties (including Company Directors Disqualification Act 1986)
  • Tax on the salary of directors, dividends, gift of shares (including Taxation on Chargeable Gains Act 1992)
  • Entrepreneur’s Relief and Incorporation Relief

1 Comment

  1. Thank you so much for all your helpful tips. Please keep writing. I really would love to have any notes or further tips you may be willing to offer. Thank you


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