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money specified in the Memorandumof Association in the event, saathi,, Date, Company limited by quarantee is the on e imp ahich the, Tability of membersis limited to the amount o quaraotce, given by ithem. This type of company mayor may, shore capital,, 3., Company t, imited By quarantee., not have, a, 2t of Hhe companypromises to paya fixed amount af, Specified in the Memorandumof. Association, Each member, the, * the dissaution of the company for the payment at, tabrlities and debts of the compang, Usually, Profit-roaking is not the auim of such companiLS. Theu, usually formed to promote activities in art, literature,, sports, educatiosreligion or o ther such notrading activities., 5., Associate company., LTerm, having a, associate means an institution or a company, Zubordinate positionin of admitted to only partial membership, of another institution or a company, 2., Herordingly, an associate companyis one over which another, company exereises a, capital or decision making power)deanee of control but the, dearee of control so applied is less thân the degree of, control exercised over the subsidiary company, significant cmeans at least 201of total, 3., An associate companyin relation t0, another company means, a has siqni cam, hicand, control or influence but the company over which sucd, company overwhich that another company!, sćanificant control subsidiary companya, appliedis not a, limited Liability., il The term liability' means the state of being responsible for, 6., ->, somethi ofa shareb older of a, ngespecially by law. The liability, noint- stock company is limited to the extent, of the face value, chores beld by him, It is limited up to the unpaid part of the face, Scanned by CamScanner, 58 TO