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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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