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of <h1>Companies Act, 1956: Key Provisions on Shares, Directors, Dividends, and Winding Up Explained</h1> The Companies Act, 1956, outlines regulations for managing a company limited by shares. It includes provisions on share capital, variation of rights, and the issuance of share certificates. The Act details the company's lien on shares, procedures for transferring and transmitting shares, and the process for calling and forfeiting shares. It also covers the conversion of shares into stock, issuance of share warrants, and alteration of capital. General meetings, voting rights, and the roles of directors and committees are defined. The Act specifies dividend distribution, account inspection, and capitalization of profits. It provides guidelines for winding up and indemnity of company officers. The Act includes sample memoranda and articles of association for different company types.
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