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In a company limited by shares, liability of members is limited to:

Under s.2(22), in a company limited by shares the liability of members is limited by the memorandum "to the amount, if any, unpaid on the shares respectively held by them".…

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In a company limited by shares, liability of members is limited to:

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Under s.2(22), in a company limited by shares the liability of members is limited by the memorandum "to the amount, if any, unpaid on the shares respectively held by them". A contribution undertaken in the memorandum is the guarantee-company measure, and the Board cannot enlarge a member's liability.

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