Acts Online
GT Shield

Companies Act, 2008 (Act No. 71 of 2008)

Chapter 1 : Interpretation, Purpose and Application

Part B : Purpose and application

8. Categories of companies

 

 

1) Two types of companies may be formed and incorporated under this Act, namely profit companies and non-profit companies.

 

2) A profit company is—
b) a private company if—
i) it is not a state-owned company; and
aa) prohibits it from offering any of its securities to the public; and
bb) restricts the transferability of its securities;
i) it meets the criteria for a private company; and
ii) its Memorandum of Incorporation states that it is a personal liability company; or
d) a public company, in any other case.

 

3) No association of persons formed after 31 December 1939 for the purpose of carrying on any business that has for its object the acquisition of gain by the association or its individual members is or may be a company or other form of body corporate unless it—
a) is registered as a company under this Act;
b) is formed pursuant to another law; or
c) was formed pursuant to Letters Patent or Royal Charter before 31 May 1962.