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A company can end by winding up, and different components just like the dying of an individual or retirement will not affect the company’s existence. Members, whilst a whole, neither are the owners of the company’s undertakings nor are they liable for their debts. Perpetual Succession means that the membership of the company could change every so often, but this does not have an effect on its continuity. Members’ obligations as shareholders lengthen to their contributions to the company’s capital as much as the nominal value of the shares they maintain but aren't paid up. In other phrases, shareholders are obliged to pay the steadiness due on their holdings when called upon , even if the company’s liabilities far exceed its belongings.