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Question

The amount payable on application on every security shall _____________of the security or such other percentage or amount, as may be specified by the Securities and Exchange Board by making regulations in this behalf

A More than two per cent of the nominal amount Correct Answer Incorrect Answer
B More than ten per cent of the nominal amount Correct Answer Incorrect Answer
C Not be less than five per cent of the nominal amount Correct Answer Incorrect Answer
D Not be less than fifteen per cent of the nominal amount Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Section 39 Allotment of securities by company- (2) The amount payable on application on every security shall not be less than five per cent of the nominal amount of the security or such other percentage or amount, as may be specified by the Securities and Exchange Board by making regulations in this behalf

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