Which of the following is true about the issuance of sweat equity shares under Chapter IV of the Companies Act, 2013?
1
Sweat equity shares can be issued to any employee or director without any time restrictions.
2
Sweat equity shares can be issued at a discount or for consideration other than cash, but the total issue cannot exceed 50% of the existing paid-up equity share capital in a year.
3
The company does not need to pass a special resolution to issue sweat equity shares.
4
The company must obtain a valuation report from a registered valuer before issuing sweat equity shares.
5
Sweat equity shares are always issued at their face value.