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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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