Who has the right to apply to prohibit payment out of capital for the redemption or purchase of shares?

The correct statement is that any member has the right to apply to prohibit payment out of capital for the redemption or purchase of shares. This principle is grounded in corporate governance and the principles of shareholder protection.

Members, often referred to as shareholders, have a vested interest in how the company manages its capital. The prevention of payments from the capital for redeeming or buying back shares is significant because it protects the financial integrity of the company, ensuring that assets are available for operational purposes and obligations to creditors are met.

By allowing any member to make such an application, the law provides a mechanism to safeguard against potential practices that could endanger the company's financial stability. It underscores the importance of shareholder rights and their role in maintaining oversight over the company’s financial decisions.

In contrast, other choices are narrower in scope or imply limitations that do not reflect the broad protections available to all members. For instance, restricting this right only to directors or majority shareholders would diminish the protective framework intended for all shareholders, allowing potentially harmful practices to occur unchallenged by minority members. Thus, the inclusion of any member in this provision ensures a more democratic and equitable approach to corporate governance.