Question

Which of the following statements is INCORRECT?

A A company may issue fully paid-up bonus shares to its members out of its free reserves
B A company may issue fully paid-up bonus shares to its members out of the capital redemption reserve account
C A company may issue fully paid-up bonus shares to its members out of the securities premium account
D A company may issue fully paid-up bonus shares to its members out of capitalising reserves created by revaluation of assets
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