Question

Choose the correct answer from the alternatives given.
Which one is correct:

• A. A minor himself can apply for fully paid shares
• B. A minor himself can apply for partly paid shares
• C. A minor can become transferee of fully paid shares
• D. A minor can become transferee of partly paid shares.

Answer 1

The correct option is C A minor can become transferee of fully paid shares

If, transferee is a minor, transfer of shares is to be effected in accordance with the provisions of the Articles of Association of the company, where shares to be transferred are fully paid-up, there is no problem for companies to register the same.