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A company's obligations and liabilities are its own, and not those of its participants. A member of a company limited by shares is usually not

A company's obligations and liabilities are its own, and not those of its participants. A member of a company limited by shares is usually not required to contribute amounts from their personal wealth beyond the subscription price of their shares to meet the debts of the company.'

Explain if you agree with the above statement and why. Give reasons for your views, including reference to cases and/or legislation as relevant to your argument.

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