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An OPC owner wishes to convert it into a Section 8 (charitable) company. Which statement is correct?
Answer & Solution
Correct answer: A.
1. Rule 7 of the Companies (Incorporation) Rules, 2014 prohibits OPC conversion into a Section 8 company.
2. Conversion into private or public companies is permitted subject to threshold conditions.
3. Hence (C).
_Source: ICAI BoS CA Inter Paper 2 — Preliminary_