Where will the classes of shares in which the company’s capital is to be divided, along with their respective rights and obligations be prescribed?
Answer & explanation
Correct answer: option 2
The correct answer is option 2- Article of Association of Company.
The classes of shares in which the company’s capital is to be divided, along with their respective rights and obligations is prescribed in the Article of Association of Company.
The amount of authorised capital, together with the number of shares in which it is divided, is stated in the Memorandum of Association but the classes of shares in which the company’s capital is to be divided, along with their respective rights and obligations, are prescribed by the Articles of Association of the company.