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Question

The qualification share must be purchased by the Directors within ______months from his appointment.

A
2
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B
4
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C
8
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D
6
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Solution

The correct option is B 2
The article of association of a company may require the Directors of that company to hold some minimum shares at the time of his appointment within such a time limit as prescribed under section 270 of the companies act 1956. This minimum shares is known s 'Qualification Shares'.
If the Directors doesn't hold that share qualification at the time of his appointment then he must require them within two months of his appointment.

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