9
Question
The qualification share must be purchased by the Directors within ______months from his appointment.
The qualification share must be purchased by the Directors within ______months from his appointment.
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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.
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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