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Answer: B. Transmission

Answer: (b) Transmission — Transmission of shares takes place due to operation of law.

Transmission takes place automatically on the death, insolvency or lunacy of a member, when the shares pass to the legal heir, the official assignee or the receiver. No transfer deed or consideration is needed; only proof of title (e.g. death certificate, succession certificate) is required.

Doubtly AI · 28 Oct 2026 AI-verified · Oct 2026 Report
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