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CS Executive · Company Law and Practice · Members and Shareholders

Sunita, a member of Anand Steels Ltd, visits the registered office during business hours and asks to inspect the register of members and take extracts. Under Section 94, which is correct?

Sunita may inspect the register of members during business hours without paying any fee and may take extracts without fee. Only if she requires a copy of the register or entries must she pay the prescribed fee under Section 94.

  1. AShe must pay a prescribed fee for inspection and for taking extracts
  2. BShe may inspect without fee and take extracts without feeCorrect
  3. CShe may inspect without fee but must pay for extracts
  4. DShe may inspect only with the Board's permission

Explanation

Section 94(2) lets any member inspect registers and indices during business hours without any fee, except when closed. Section 94(3)(a) lets such person take extracts without payment; only a copy under 94(3)(b) requires the prescribed fee. Refusal attracts a daily penalty under Section 94(4).

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