alleryStart learning →Who alone is entitled to brokerage on deposits procured for a company?
AAny member who refers
BAny director of company
CPerson authorised in writing
DAny employee involved
Answer & Solution
Correct answer: C. Person authorised in writing
Only the person the company authorised in writing to solicit deposits, and who actually procured them, may be paid brokerage.
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Related questions
Where must a company inviting public deposits upload the circular?A deposit circular stays valid for how long after the financial year closes (at most)?Who signs the circular copy sent to the Registrar under Rule 4(5)?On whose authority and name must a deposit circular be issued?An eligible company's public deposit circular is issued in which form?A section 73(2) company can send its member circular by which mode?After issuing the circular, what may a company not reserve a right to do?Deposit interest and brokerage may not exceed the maximum set by whom?