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    Question

    No company limited by shares shall, after the

    commencement of this 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 the above Correct Answer Incorrect Answer
    E Either of the above 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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