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Question
Write a word or a term or a phrase which can substitute the following statement:
Clause which describes the extent of liability of members.
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Solution
Liability clauses
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For making multiple issues of shares within a year, a company can prepare a ________ Prospectus.
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_______ is an incomplete prospectus.
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Document which establishes company’s relationship with outsiders.
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The document is subordinate to the Memorandum of Association.
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Clause which describes the main activities a company can undertake.
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Last clause of Memorandum which contains name, signature, and other details of all the subscribers to the Memorandum.
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Document issued by public company inviting public to subscribe to its shares.
State whether the following statement is True or False:
Memorandum of Association and Articles of Association is prepared at the time of incorporation of a company.
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Memorandum of Association describes the nature and character of the company.
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Memorandum need not have a Liability Clause.
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Articles of Association is subordinate to Memorandum.
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Memorandum contains rules and regulations for the internal management of a company.
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The documents which state the aims and objectives of a company is called as_________
Complete the sentence.
The document which is subordinate to the Memorandum of Association is called _________
Select the correct option from the given options:
| Group A | Group B |
| Liability clause | ___________ |
Explain the following term/concept.
Liability clauses
Study the following case/situation and express your opinion:
A public limited company has issued all the shares mentioned in its Memorandum as Authorized Capital. Now the Company wants to make a public issue of 10,000 shares at face value of Rs 100 per share, to raise more funds for its expansion activities :
(a) Which clause of Memorandum needs to be altered?
(b) In which meeting the alteration can be approved?
(c) Which document should the company issue to invite the public to buy its shares?
