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'Perpetual succession' of a company means that:
AShares cannot be transferred
BThe company never pays tax
CChanges in membership (death/insolvency) do not affect the company's existence
DDirectors hold office for life
Answer & Solution
Correct answer: C. Changes in membership (death/insolvency) do not affect the company's existence
A company has perpetual succession: members may come and go, but the company continues until wound up by law.
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