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+--- Thread: Companies Ordinance 1984 (/showthread.php?tid=3023)
Companies Ordinance 1984 - adeelnasim - 03-16-2006
Fellows,
Can you people tell me the differences between public and private limited company at the time of formation and incorporation in companies ordinance 1984.If uou know the website then let me know otherwise paste the information here.
I will be very veryyyyyyy thankful.
Regards.
- Ali Akbar - 03-17-2006
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by adeelnasim</i>
<br />Fellows,
Can you people tell me the differences between public and private limited company at the time of formation and incorporation in companies ordinance 1984.If uou know the website then let me know otherwise paste the information here.
I will be very veryyyyyyy thankful.
Regards.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Hi
The main difference between a private company and a public company arises due to the following three clauses inserted into the articles of a private company, viz-a-viz
i) Restriction of the right of its members to transfer its shares, if any.
ii)Limitation of its members to 50 not including employed members.
iii)Prohibtion of any invitation to the public to subscurbe for its shares.
So, all of the three conditions should be inserted in the articles of association to form it a private company. If any of these three conditions is not inserted or missing it means that it is a public company.Moreover, these three conditions can also be termed as features of a private company.
ICAPians, the unparalleled..
- fatima ca - 03-17-2006
hi
and at the time of incorporation there needs One(in case of single member)or more persons for Private company and Three or more in case of Public company to b registered by subscribing their names to the memorandum of association and complying the requirements of Companies Ordiance 1984.
hmm
- Abdur.Rehman - 03-23-2006
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by fatima ca</i>
<br />hi
and at the time of incorporation there needs One(in case of single member)or more persons for Private company and Three or more in case of Public company to b registered by subscribing their names to the memorandum of association and complying the requirements of Companies Ordiance 1984.
hmm
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
ok fatima can u tell me why a public company should have 3 or more members. i want to relate it to some other section of the Ordinance. think over it