How many days(minimum) are given to shareholders to pay the call amount on shares allotted to them?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- 14.
14 days(minimum) are given to shareholders to pay the call amount on shares allotted to them.
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) A minimum of 14 days notice is given to the shareholders to pay the amount.
(d) Calls must be made uniformly on all shares within the same class.