CUET Preparation Today
Where there is no articles of association of its own, which of the following provisions applies as per Table A. |
A minimum of 15 days' notice is given to the shareholders to pay the amount Calls must be made on a uniform basis on all shares of all class A period of one month must elapse between two calls The amount of call should not exceed 20% of the face value of the share |
A period of one month must elapse between two calls |
The correct answer is option 3- A period of one month must elapse between two calls. A period of one month must elapse between two calls is the correct statement that applied in case of no articles of association of its own.
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. |
