Companies Act, 1973 (Act No. 61 of 1973)

Chapter III: Types and forms of Companies

Conversion of One Type or Form of Company into Another Type or Form of Company

19. Types of companies
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Note that the full heading of Chapter III is TYPES AND FORMS OF COMPANIES, CONVERSIONS AND LIMITATIONS ON PARTNERSHIPS AND ASSOCIATIONS

 

1)Two types of companies may be formed and incorporated under this Act, namely:
a)a company having a share capital; or
b)a company not having a share capital and having the liability of its members limited by the memorandum of association (in this Act termed "a company limited by guarantee").

 

2)A company having a share capital may be either a public company or a private company having shares of par value or shares of no par value.

 

3)All companies limited by guarantee, including such existing companies, shall be deemed to be public companies for the purposes of this Act.