Share premium account

I need clarification on floowing,

We are about to issue share capital in private limited company,

1. Can one private limited company hold shares in new private limited company?

2. Can a minor hold shares?

3. Can we use share premium we have collected for expansion and modernisation of comapny products?

Thanks in advance

I need further clarification,

The section 78(2) is silent about uses of funds for modernisation and expansion, how can we treat the premium fund in accounting journals? Can we take loan from Share premium account and repay over a period of time?