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Discuss the conditions of the Solvency Test required of a public company for the purpose of the: (a) redemption of preference shares (20 marks) (b)

Discuss the conditions of the Solvency Test required of a public company for the purpose of the:

(a) redemption of preference shares (20 marks)

(b) purchase of its own shares (20 marks)

In Paragraph and total words shall be in the region of 600 words.

Refer to s 132 and 133 Companies Act.

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