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Memorandum of Association — SPCC STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceSPCCMemorandum of Association3 Marks
Question
How can Liability Clause be changed?
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Answer

The changes in the liability clause are as follows:
1. Out of the outstanding liability of the shares, the liability may be reduced or the liability of the remaining shares may be reduced.
2. If the company is limited by share capital or limited by guarantee, it can reduce the share capital by special resolution.

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