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

Chapter III: Types and forms of Companies

Limitations on Partnerships and Associations for Gain

30. Prohibition of associations or partnerships exceeding twenty members, and exemption
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1)No company, association, syndicate or partnership consisting of more than twenty persons shall be permitted or formed in the Republic for the purpose of carrying on any business that has for its object the acquisition of gain by the company, association, syndicate or partnership, or by the individual members thereof, unless it is registered as a company under this Act or is formed in pursuance of some other law or was before the thirty-first day of May, 1962, formed in pursuance of Letters Patent or Royal Charter.

 

2)The provisions of subsection (1) shall not apply with reference to the formation by persons qualified to carry on any organised professions which are designated by the Minister by notice in the Gazette, of any association, syndicate or partnership for the purpose of carrying on such professions and/or any combinations of such professions.