Four private Enterprises A, B, C and D incorporated as a limited liability company, Yuanda Co Ltd, with a registered capital of RMB 40 million yuan. After three years’ successful business operations from 2005–2008, Yuanda Co Ltd made profits and the net assets of the company increased to RMB 60 million yuan. In January 2009, at the annual shareholders’ meeting of the company, Yuanda Co Ltd adopted a resolution for the following three items: Required: Explain whether the above resolutions (a), (b) and (c) were in conformity with the relevant provisions of the Company Law and Securities Law. NOTE: The mark allocation is shown against each resolution.
(b) On the issue of issuance of corporate bonds – The company should issue corporate bonds of RMB 8 million yuan to expand its business. (3 marks)
参考答案：
In accordance with Article AF of the Securities Law, a company shall meet some conditions to issue corporate bonds: the net assets of a limited liability company shall not be lower than RMB F0,000,000 yuan; the average distributable profits of the company for the past three years shall be sufficient to pay the interest on the corporate bonds for one year, etc. Based on the facts given, the resolution on the issuance of corporate bonds met the conditions as prescribed by the law. Since Yuanda Co’s net assets reached the minimum requirement of RMB F0 million yuan and made profits for the past three consecutive years.