The amount to be collected on application of share should ___________.

not be more than

5

% of the nominal value of shares

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not be less than

5

% of the nominal value of shares

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not be more than

5

% of the issue price of the share

No worries! We‘ve got your back. Try BYJU‘S free classes today!

not be less than

5

% of the issue price of the share

No worries! We‘ve got your back. Try BYJU‘S free classes today!

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Solution

The correct option is B not be less than $5$ % of the nominal value of shares
As per section $69 (3)$ of the Companies Act, $1956$ , the amount on application shall not be less than $5$ % of the nominal value of share. Therefore, correct answer is (b).

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The amount to be collected on application of share should ___________.

The correct option is B not be less than 5% of the nominal value of sharesAs per section 69(3) of the Companies Act, 1956, the amount on application shall not be less than 5% of the nominal value of share. Therefore, correct answer is (b).

The correct option is B not be less than $5$ % of the nominal value of shares
As per section $69 (3)$ of the Companies Act, $1956$ , the amount on application shall not be less than $5$ % of the nominal value of share. Therefore, correct answer is (b).