CA Inter P2 · Chapter 2 · Question 3 of 11
Which of the following is NOT a clause required to be stated in the memorandum of a company limited by shares under section 4?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The procedure for transfer of shares
Explanation
Section 4 requires the memorandum to state the name, the State of the registered office, the objects, the liability of members, the capital (for a company with share capital) and the subscribers. For an OPC it must also state the nominee. The procedure for transfer of shares is a matter for the articles, not the memorandum.
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