Companies Act, 1973 (Act No. 61 of 1973)Chapter I: Application of Act4. Transitional provisions as to unlimited companies and partly paid-up shares |
| 1) | Any existing company which is an unlimited company within the meaning of the repealed Act and which is not converted into a type of company under this Act, shall remain on the register of companies as an unlimited company and the provisions of the repealed Act shall, save as is otherwise provided in this Act, continue to apply to such company as if that Act had not been repealed. |
| 2) | Any existing company which has issued any shares which are at the commencement of this Act not fully paid-up, shall remain subject to the provisions of the repealed Act in respect of such shares only as if this Act had not been passed. |