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    Question

    A company must redeem preference shares no later

    than:
    A 20 years Correct Answer Incorrect Answer
    B 25 years Correct Answer Incorrect Answer
    C 30 years Correct Answer Incorrect Answer
    D 15 years Correct Answer Incorrect Answer
    E 10 years Correct Answer Incorrect Answer

    Solution

    Under Section 55, redemption must be completed within 20 years unless the companyтАЩs articles permit longer, up to 25 years.

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