A company limited by gurantee and a private company

REGULATION REQUIRED IN CASE OF AN UNLIMITED COMPANY, A COMPANY LIMITED BY GURANTEE AND A PRIVATE COMPANY

1.unlimited company:

in case of an unlimited company, the articles shall state

a) the number of members with which the company is to be registered and,

b) it has a share capital, the amount of share capital with which the company is to be registered.

2.company limited by gurantee:

in case of a company limited by gurantee, the articles of association shall state the number of members with which along the company is to be registered.

3.private company:

in the case of a private company having a share capital, the articles shall contain provisions which-

a)restrict the right to transfer shares,

b)limit the number of its members to 50 and,

c)prohibit any invitation to the public to subscriber for any shares in, or debentures of a company.


ADOPTION OF APPLICATION OF TABLE A :

There are 3 alternatives forms in which apublic company may adopt articles:

1.it may adopt table A in full.

2.it may wholly exclude table A and set out its own articles in full.

3.it may frame its own articles and adopt part of table A.

In other words, unless the articles of a public company expressely exclude any or all provisions of a table A. table A shall automatically apply to it.