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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A corporation with a fixed term expiring on December 31 validly secures an extension before expiry. Its officers argue that the extended term must begin immediately upon their earlier approval, displacing the unexpired original term. Under Section 11, what is the correct effective-start rule for the extension?

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It begins at the first preparatory meeting. The extension takes effect only on the day following the original or subsequent expiry date, as applicable. It always begins one year before expiry. It begins retroactively at the founder's birth.

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