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    Question

    Where a company is formed and registered under this Act

    for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar in such manner as may be prescribed for obtaining the status of___________________
    A Shell Company Correct Answer Incorrect Answer
    B Inactive Company Correct Answer Incorrect Answer
    C Inoperative Company Correct Answer Incorrect Answer
    D Dormant Company Correct Answer Incorrect Answer

    Solution

    Explanation: Section 455. Dormant company- (1) Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar in such manner as may be prescribed for obtaining the status of a dormant company.

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