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Question
The voluntary return of shares for cancellation by shareholders is called ___________.
The voluntary return of shares for cancellation by shareholders is called ___________.
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Solution
The correct option is A surrender of shares
When a shareholder feels that he cannot pay further calls; he may himselfsurrender the shares to the company. These shares are then cancelled. Surrender of shares is a voluntary return of shares for the purposes of cancellation.
When a shareholder feels that he cannot pay further calls; he may himselfsurrender the shares to the company. These shares are then cancelled. Surrender of shares is a voluntary return of shares for the purposes of cancellation.
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