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Share capital division

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(Querist)
21 June 2012 In the case of a company having a share capital, the Memorandum shall state the amount of share capital with which the company is to be registered and the division thereof into shares of a fixed amount.

Does this condition apply in case of an unlimited company?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
21 June 2012 No not applicable to Unlimited Company.

Read Section 13(4)(a) of the Companies Act 1956 which states that unless the company is an unlimited company, the memorandum shall also state the amount of share capital with which the company is to be registered and the division thereof into shares of a fixed amount".
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