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QUESTION 7 MAINTENANCE OF CAPITAL Jenny and Lisa are the directors holding 50% each in Merpati Sdn Bhd. Ang is employed as the company secretary.

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QUESTION 7 MAINTENANCE OF CAPITAL Jenny and Lisa are the directors holding 50% each in Merpati Sdn Bhd. Ang is employed as the company secretary. Jenny wants to move abroad and wants to sell all her shares the company and vacate her office as director. Lisa would like to buy Jenny's shares but does not have enough funds to do 50. Discuss whether the company is legally permitted under the Companies Act 2016 to give a loan to Lisa to enable her to purchase Jenny's shares. If Lisa obtains a loan from a bank to purchase Jenny's shares, can the company provide security for the loan in the form of a charge over its property. Can Ang obtain a loan from the company to buy Jenny's shares

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