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Sir you said in ur lecture that shares cannot be issued at less than their nominal value. BUT how do we reconcile this with the fact that shares can be issued at discount price which is below the nominal value of a share?
I DON’T understand this.
Shares may be issued at a discount on their market value, but this is only relevant for Paper F9 and not for Paper FA.
They are rarely allowed to be issued at a discount on the nominal value and the circumstances where this may be allowed under Company Law are not relevant for Paper FA.
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