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Qualification share

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(Querist)
12 September 2011 Dear Sir,
Why is it required to hold qualification share by director in case of limited company .

I want to know that it is necessary and what is the meaning of qualification share.
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CS Pawan Kumar Baid

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CS Pawan Kumar Baid (Expert)
28 October 2011 Holding qualification share is not mandatory. However, if your AoA so provide, then Sec 270 of Companies Act will be applicable, and every director has to hold qualification share within 2 months of their appointment. And AoA cannot specify nominal value of qualification shares more than Rs 5000/-.

Qualification share is minimum number of share which every director should hold.
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