Companies Act, 1973 (Act No. 61 of 1973)Chapter III: Types and forms of CompaniesConversion of One Type or Form of Company into Another Type or Form of Company19. Types of companies |
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. |