TYPES OF COMPANIES -can be classified as...

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TYPES OF COMPANIES -can be classified as... by Mind Map: TYPES OF COMPANIES -can be classified as...

1. LIABILITY OF MEMBERS

1.1. COMP LIMITED BY SHARES

1.1.1. sec 10(2) -comp form in principal of having liability of its members with limited amount, any, unpaid on shares

1.2. COMP LIMITED BY GURANTEE

1.2.1. liability of its member is limited to such amount as members undertake to contribute events of being wound up

1.3. UNLIMITED COMP

1.3.1. means comp form on the principle of having no limit place on liability its members

2. PUBLIC STATUS

2.1. PRIVATE COMPANY

2.1.1. characteristic of PC on Sec 42 ~ Limited by shares ~ Limits not more than 50 shareholders ~ Restrict the transfer of its shares ~ Name shall end 'Sdn Bhd' ~ min 1 director ~ Need not to hold an AGM in every calender year

2.1.2. Single member company .one director and same as shareholder in contract as sole member

2.1.3. Exempt Private Company ~ may be either exempt private company or non-exempt company ~ A private company who has 20 members or less and none of its members are themselves companies ~ SEC 260 of CA allows exempt private company to lodge with registrar certificate relating to its status and exempt company in lieu of the requirement in sec 259(1) of CA 2016

2.2. PUBLIC COMPANY

2.2.1. ~ has more than 50 members ~ min of directors ~ mandatory for every comp

3. RELATION WITH OTHER COMPANY

3.1. Subsidiary Company Section 4(1) - Deemed to be a subsidiary of holding company (a) if the other corporation ~ control the corporation of the BOD of subsidiary company ~ control more than half of voting power of subsidiaries ~ controls more than half the issued share capital of subsidiaries (b) The corporation is subsidiary of any corporation which is that the other corporation's subsidiary

4. Sec 2(1) "company" means a company incorporated under Companies Act 2016 or under any corresponding previous written law