While issuing the share capital for public subscription where there is no articles of association of its own, the following provisions of Table A will apply:

(A) A period of one month must elapse between two calls.

(B) The amount of call should not exceed 25% of the face value of the share.

(C) A minimum of 7 days' notice is given to the shareholders to pay the amount.

(D) Calls must be made on a uniform basis on all shares within the same class.

Choose the correct answer from the options given below:

When a company has no articles of association of its own, the provisions of Table A of the Companies Act automatically apply for various matters including calls on shares.

Let's examine each provision:

(A) A period of one month must elapse between two calls ✓

This is correct. Table A mandates a minimum gap of one month between two successive calls to give shareholders adequate time to arrange funds.

(B) The amount of call should not exceed 25% of the face value of the share ✓

This is correct. Each call amount is restricted to a maximum of 25% of the nominal/face value of shares to ensure calls are not too burdensome on shareholders.

(C) A minimum of 7 days' notice is given to the shareholders to pay the amount ✗

This is incorrect. Table A requires a minimum notice period of 14 days (not 7 days) to be given to shareholders before payment of call money is due. This longer notice period ensures shareholders have sufficient time to arrange the payment.

(D) Calls must be made on a uniform basis on all shares within the same class ✓

This is correct. The principle of uniformity requires that all shareholders holding shares of the same class must be treated equally. The same amount must be called at the same time from all such shareholders.

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Therefore, statements (A), (B) and (D) are correct provisions under Table A.

Correct Answer: Option 2