Registered Capital is the maximum amount of share capital that a company is authorized to issue to shareholders as per its Memorandum of Association. This limit is stated in the capital clause of the company's constitutional documents.
Nominal Capital is simply another name for Registered Capital. Both terms refer to the same concept - the authorized limit of capital.
Understanding other terms mentioned:
Issued Capital → Portion of registered capital that is actually offered to the public for subscription
Subscribed Capital → Portion of issued capital that investors have agreed to buy
Reserve Capital → A special portion of uncalled capital that can only be called upon during the winding up of the company (created by passing a special resolution)
The relationship can be shown as: Registered/Nominal Capital ≥ Issued Capital ≥ Subscribed Capital
Therefore, Option 3: Nominal Capital is correct.