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708-Chaudhari Technical Institute, Gandhinagar - Gujarat ...

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A shareholder's liability shall be limited to the amount of the subscription price<br />

of the shares he/she holds.<br />

• Total Number of Authorized Shares<br />

A Stock Company may not abolish the provisions on the Total Number of<br />

Authorized Shares by amending its articles of incorporation.<br />

2) Civil Code (Act No. 89 of 1896)<br />

General provision<br />

Common Provisions<br />

This Code must be construed in accordance with honoring the dignity of<br />

Individuals and the essential equality of both sexes.<br />

Section I Capacity to Hold Rights<br />

The enjoyment of private rights shall commence at birth.Unless otherwise<br />

provided by applicable laws, regulations or treaties, foreign nationals shall<br />

enjoy private rights.<br />

Section II Capacity to Act<br />

• Age of Majority<br />

The age of majority is reached when a person has reached the age of 20.<br />

• Permission for Minors to Carry on Business<br />

A minor who is permitted to carry on one or more kinds of business shall<br />

have the same capacity to act as a person of the age of majority as far as<br />

such business is concerned.<br />

Section III Domicile<br />

• Domicile<br />

The principal place wherein a person lives shall be his/her domicile.<br />

45

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