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[Cites 0, Cited by 0] [Section 266] [Entire Act]

Union of India - Subsection

Section 266(2) in The Companies Act, 1956

(2)Where a person has signed and filed as aforesaid an undertaking to take and pay of his qualification shares, he shall, as regards those shares, be in the same position as if he had signed the memorandum for shares of that number of value.