Non-cash assets?

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July 22, 2017 at 4:08 am #398003
debaera
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The textbook says “Within two years of receiving its trading certificate, a public company may not receive a transfer of non-cash assets from a subscriber to the memorandum.”

What is meant by “non-cash assets from a subscriber to the memorandum,” sir?
July 22, 2017 at 7:16 am #398015
MikeLittle
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A subscriber to the memorandum is a person that has signed their name (scriber) at the foot of the memorandum (so a sub-scriber) for it to be delivered to the Registrar leading to the creation of the company

A non-cash asset is an asset that … isn’t cash!

OK?
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