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    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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