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QUALIFICATION SHARES | CAIIB JUNE EXAM 2023

CAIIB JUNE EXAM 2023

This article deals with the Qualification Shares topic of the CAIIB JUNE 2023 EXAM along with the CAIIB JUNE 2023 Study Material.

The CAIIB exam, one of IIBF’s top flagship courses, is made available to all people across the country who hold JAIIB Certification twice a year (biannually). The CAIIB is one of the most challenging courses for bankers to pass.

You will ace the CAIIB test if you use our “CAIIB study material,” we promise.
Every two years, there are two CAIIB exams. Before taking the CAIIB Exam, candidates must have passed the JAIIB Exam. Bankers who meet CAIIB qualifications are also eligible for wage raises.

There are modules and chapters in this flagship course/examination, with two obligatory papers and one optional paper. Only members of the institution and staff of a small number of reputable banks in the nation are permitted to take this online exam.

A banker’s level of expertise in the operational and technical areas used on a daily basis is assessed biannually. According to the IIBF website, the first exam for 2023 is going to be in June, and the next one will be in December. The next year, around March, the registration periods for the CAIIB exams will open.

Now that we have discussed CAIIB June 2023 EXAM let’s move forward with the discussion of an important topic which is Qualification Shares.

 

QUALIFICATION SHARES

  • Qualification shares are the common stock that a prospective member of a company’s Board of Directors (BOD) must own. The phrase makes no distinction between a qualifying share’s characteristics and those of common shares held by other shareholders. Instead, it refers to the necessity that a board member must have shares in the company that gives them a stake in how the business is run.
  • According to the company’s articles, each director must own a specific number of shares. These securities are referred to as qualifying shares. The required number must be acquired by a director within two months of being hired. A director cannot be forced to acquire qualification shares if he is not selected as a director. In addition, he cannot be forced to acquire the qualifying shares in a time frame that is less than two months after being appointed.

  • Except in cases where the nominal value of the share is more than the share’s amount, the value of the qualifying shares cannot exceed Rs. 5,000. A director is only permitted to own shares, not warrants on shares. If a director disregards advice and does not acquire his qualification shares, he may suffer. He may endure things like:
  • He might have to vacate his seat.
  • If he continues to serve as a director, he will be required to pay a fine. The director is obliged to personally own the shares.

DISQUALIFICATION OF DIRECTOR

Section 274 specifies the minimal conditions for members’ eligibility. In the following situations, a person cannot be appointed as a director

  • When the court has determined that the person is not of sound mind.
  • A person against whom the director has begun legal actions because he is unable to pay his debts and cannot be satisfied by his assets.
  • When the director is declared insolvent by a court.
  • When five years have not gone since the director’s sentence was set to expire, the sentence was for an offence involving morally repugnant behaviour, and the director was given a prison term of at least six months.
  • Six months have passed since his last call payment on his shares.
  • Where he was disqualified under Section 203 for stopping fraudsters.
  • Additional disqualifications may apply if a private company is not a division of a publicly traded company. A public corporation and its subsidiaries are not permitted to add or expand any other disqualifications, in accordance with the Supreme Court.

RESIGNATION FROM POSITION

The director must resign from their position if

  • He is subject to all disqualifications listed in Section 164.
  • If a director fails to show up for any Board of Directors meetings for a full year without first requesting a leave of absence from the Board.
  • The provisions of Section 184 are broken if the director fails to disclose his involvement in any transaction.
  • If the panel or court rules that the director is no longer eligible.
  • If the director is found guilty in a court of any crime, he will be sentenced to a minimum of six months in prison.
  • If the court or tribunal rules that the director is ineligible If the director is found guilty and sentenced to at least six months in jail by the court.
  • If The Act’s restrictions lead to his removal.

Read Also: CAIIB JUNE EXAM 2023 | SCHEDULE OF LIVE CLASSES

DIRECTORS FIRED IF

  • Before the end of the term of his office, a corporation may dismiss a director who was not nominated by the tribunal under Section 242. To give a fair opportunity, it is crucial to hear his perspective. To remove a director under this provision or to appoint another director to take the place of the director thus removed, a special resolution is needed.
  • Removal by the shareholder.
  • A director may be fired by the firm in accordance with Section 242 before the end of his term of office. To remove a director under this provision or to appoint another director to take the place of the director thus removed, a special resolution is needed.

 

CAIIB JUNE 2023 STUDY MATERIAL

To create the CAIIB study material JUNE 2023, Learning Sessions used the most recent IIBF exam pattern and syllabus. The following are included:

  • Experts in the relevant fields created the video lectures.
  • Videos showcasing up-to-date concept knowledge align with the most recent CAIIB Syllabus 2023.
  • In our CAIIB JUNE 2023 Study material, case studies are also included.
  • Additionally, there are memory-based questions from previous CAIIB Exams in the package.
  • Our CAIIB study material package also includes live classes.
  • Our preparation programme includes CAIIB mock tests 2023 as well.
  • Except for live YouTube videos and app classes, recorded video lectures can also be accessed.

 

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