alleryStart learning →Which is an exception letting a subsidiary hold holding-company shares?
AAs a lender
BAs a guarantor
CAs a trustee
DAs an auditor
Answer & Solution
Correct answer: C. As a trustee
A subsidiary holding the shares as a trustee falls within the provisos to section 19(1).
Keep practising Incorporation of Company
Browse all Incorporation of Company questions for CA Inter, or explore more Law topics.
Related questions
Who may sign a company's contracts for authentication?Which is a permitted mode of serving a document on a company?Which shareholding does section 19 generally prohibit?After conversion under section 18, what happens to earlier debts and contracts?A member requests the memorandum; the company must send it within?Penalty per copy issued without noting an alteration in the memorandum?An altered article is filed with the Registrar within how many days?Private restrictions dropped from the articles. What follows?