Chapter Four: Constitutional Law And Us Commerce
Quorum for a common meeting of a non-public firm is 2 members; for a public firm, three. A member of a public company may, however a member of a personal company could not, appoint a couple of proxy. A personal company needn’t lodge monetary statements with the CIPC , whereas a public company should. Private companies make no offer of shares to the public, however public corporations, whose shares could also be listed on a stock exchange, might increase capital from most of the people. The transferability of shares is restricted for a non-public company, but there is free transferability of shares and pursuits for a public company. The name of a non-public firm ends with ” Ltd;” that of a public firm ends with “Ltd.”
As famous earlier on this chapter, the English frequent-regulation tradition placed nice emphasis on precedent and what’s … Read More