The amount on any call should not exceed of the face value of shares.
Answer & explanation
Correct answer: option 2
The correct answer is option 2- 25%.
The amount on any call should not exceed of 25% the face value of shares.
Where there is no articles of association of its own, the following provisions of Table A will apply:
(a) A period of one month must elapse between two calls.
(b) The amount of call should not exceed 25% of the face value of the share.
(c) Calls must be made on a uniform basis on all shares within the same class.
(d) A minimum of 14 days’ notice is given to the shareholders to pay the amount.