Company Secretary
30 Points
Joined September 2008
1. Can paid up capital and share application money( received in advance ) exceed the Authorised capital? - Yes.
2.Whether the Issued capital can exceed the Authorised capital? -No.
3. Whether Company can receive Share Application Money in advance( ie before Issue)? -Yes.
This money has to be held by the Company in trust and shares will be issued only as and when the Company plan to issue further shares.