Question

While issuing the share capital for public subscription where there is no Articles of Association of its own, the following provisions of Table A will apply: (A) A period of one month must elapse between two calls.
(B) The amount of call should not exceed 25% of the face value of the share.
(C) A minimum of 7 days' notice is given to the shareholders to pay the amount.
(D) Calls must be made on a uniform basis on all shares within the same class.
Choose the correct answer from the options given below:

• A. (A), (B) and (C) only
• B. (A), (B) and (D) only
• C. (A), (B), (C) and (D)
• D. (B), (C) and (D) only

Hint:

If Articles of Association are absent, Table A rules apply by default. Always check the legal provisions for calls on shares.

Answer 1

The Correct Option is C

Step 1: Table A Provisions.
In the absence of a company's own Articles of Association, Table A from the Companies Act is applicable. This table mandates that: - A minimum of 1 month must separate consecutive calls.
- Each call cannot exceed 25% of the face value.
- A minimum of 7 days' notice is required for calls.
- Calls must be applied uniformly across all shares of the same class.

Step 2: Valid Provisions.
Consequently, all four provisions (A, B, C, and D) are accurate.

Final Answer: \[\boxed{(A), (B), (C) \text{ and } (D)}\]