Question

Under Section 39(3) of the Companies Act, 2013, the amount payable on application for securities offered to the public shall not be less than what percentage of the nominal amount of the security?

A five per cent of the nominal amount of the security
B ten per cent of the nominal amount of the security
C twenty-five per cent of the nominal amount of the security
D two and a half per cent of the nominal amount of the security
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