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      Question

      No banking company shall pay any dividend on its shares

      until all its capitalised expenses including ____________________ have been completely written off
      A Preliminary expenses Correct Answer Incorrect Answer
      B Organisation expenses Correct Answer Incorrect Answer
      C Share-selling commission, brokerage Correct Answer Incorrect Answer
      D All a b & c Correct Answer Incorrect Answer

      Solution

      Banking Regulation Act Section 15. Restrictions as to payment of dividend: (1) No banking company shall pay any dividend on its shares until all its capitalised expenses (including preliminary expenses, organisation expenses, share-selling commission, brokerage, amounts of losses incurred and any other item of expenditure not represented by tangible assets) have been completely written off.

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