Question
 The amount payable on application on every security
shall not be less than how much of the nominal amount of the security?Solution
Companies Act, 2013 - Section 39 – Allotment of securities by company The amount payable on application on every security shall not be less than five per cent of the nominal amount of the security or such other percentage or amount, as may be specified by the Securities and Exchange Board by making regulations in this behalf.
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