Question

No company limited by shares shall, after the commencement of the Companies Act, issue any preference shares which are ____________

A Redeemable Correct Answer Incorrect Answer
B Irredeemable Correct Answer Incorrect Answer
C Cumulative Correct Answer Incorrect Answer
D All a b & c Correct Answer Incorrect Answer
E Either a or b Correct Answer Incorrect Answer

Solution

Section 55.Issue and redemption of preference shares: (1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable.

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