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of <h1>Understanding Joint-Stock Company: Permanent Share Capital, Transferable Shares, and Limited Liability Under Companies Act, 1956</h1> A joint-stock company, under the Companies Act, 1956, is defined as a company with a permanent paid-up or nominal share capital divided into fixed-amount shares or stock. These shares or stock can be wholly or partially held and transferred. The members of such a company are exclusively the holders of these shares or stock. When registered with limited liability under this Act, a joint-stock company is considered a company limited by shares.
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