Depending on its constitution and the terms of the prospectus, a company that receives more than the required number of applications for its shares will normally:

Question

Quizplus · Accepted Answer

Depending on the constitution and the terms of the prospectus, the company may have the option to either refund the excess to unsuccessful applicants or retain the excess in satisfaction of future calls. Therefore, option D is the most appropriate answer as it covers both possibilities.

Depending on Its Constitution and the Terms of the Prospectus