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<h1>Companies and business entities may register as unlimited, limited by shares, or limited by guarantee under specified statutory conditions.</h1> Companies and various business entities may register under this Part as an unlimited company, a company limited by shares, or a company limited by guarantee, subject to statutory exceptions. Companies previously registered under the Indian Companies Acts of 1882, 1913 or 1956 are excluded. A company limited by shares must have permanent paid-up or nominal share capital divided into shares or stock and be constituted on the principle that its members are the holders of such shares or stock. Registration requires member assent at a general meeting; conversion to a limited company by a previously unlimited company requires at least three-fourths assent when present.