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    Question

    No banking company shall pay any dividend on its shares

    until all its capitalised expenses including ____________________have been completely written off
    A Preliminary expenses Correct Answer Incorrect Answer
    B Organisation expenses Correct Answer Incorrect Answer
    C Share-selling commission, brokerage Correct Answer Incorrect Answer
    D All a b & c Correct Answer Incorrect Answer
    E Both a & b Correct Answer Incorrect Answer

    Solution

    Section 15. Restrictions as to payment of dividend: (1)] No banking company shall pay any dividend on its shares until all its capitalised expenses (including preliminary expenses, organisation expenses, share-selling commission, brokerage, amounts of losses incurred and any other item of expenditure not represented by tangible assets) have been completely written off.

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