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    Question

    Which of the following Section deals with ‘Company to accept unpaid share capital, although not called up’?

    A Section 43 Correct Answer Incorrect Answer
    B Section 50 Correct Answer Incorrect Answer
    C Section 53 Correct Answer Incorrect Answer
    D Section 62 Correct Answer Incorrect Answer
    E Section 63 Correct Answer Incorrect Answer

    Solution

    Section 50 - Company to accept unpaid share capital, although not called up. 1) A company may, if so authorised by its articles , accept from any  member  , the whole or a part of the amount remaining unpaid on any shares held by him, even if no part of that amount has been called up. (2) A member of the company limited by shares  shall not be entitled to any voting right in respect of the amount paid by him under sub-section (1) until that amount has been called up.

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