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      Question

      LIC’s shares are required to

      be: 
      A Non-transferable Correct Answer Incorrect Answer
      B Freely transferable with certain restrictions Correct Answer Incorrect Answer
      C Only transferable to Government Correct Answer Incorrect Answer
      D Transferable only between policyholders Correct Answer Incorrect Answer
      E Transferable only with Board approval Correct Answer Incorrect Answer

      Solution

      Section 5A allows free transferability except limitations on Central Government's shareholding [Section 5A].

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