Practice Test

Minimum paid up capital for public company is ....

In the case of a private company, every member owing fully paid-up shares can freely transfer shares held by him subject to the provisions in the articles of the company.

Which of the following statement is CORRECT in relation to Non-Profit making companies registered under section 8 of the Companies Act, 2013 ?
(I) Non-profit making companies registered under section 8 of the Companies Act, 2013 can pay 10% of their surplus as dividend on approval of Central Government.
(II) A firm may be a member of the non-profit making companies registered under section 8 of the Companies Act, 2013.
(III) Non-profit making companies registered under section 8 of the Companies Act, 2013 cannot convert itself into company of any other kind.
(IV) Non-profit making companies registered under section 8 of the Companies Act, 2013 has in its objects the promotion of commerce, art, science, sports, education research, social welfare, religion,charity, protection of environment or any such other objects.