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Company LAW: Classification of Companies

This document provides a mind map of key concepts in company law. It outlines the main classifications of companies as companies limited by shares, companies limited by guarantee, limited companies, and unlimited companies. It also distinguishes between private and public companies and notes the effects of incorporation such as becoming a separate legal entity with perpetual succession and limited liability for members. Remedies for breach of promoter's duties like rescission and damages are also summarized.

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siti nadhirah
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1K views1 page

Company LAW: Classification of Companies

This document provides a mind map of key concepts in company law. It outlines the main classifications of companies as companies limited by shares, companies limited by guarantee, limited companies, and unlimited companies. It also distinguishes between private and public companies and notes the effects of incorporation such as becoming a separate legal entity with perpetual succession and limited liability for members. Remedies for breach of promoter's duties like rescission and damages are also summarized.

Uploaded by

siti nadhirah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COMPANY LAW

MIND MAP

Company Limited by Section 2(1) of CA:


shares
Any company, which immediately
prior to the commencement of CA
2016, was a private company under any corresponding
Company Limited by previous
Guarantee written law;

Limited and unlimited


company
CLASSIFICATION Unlimited A company incorporated
OF COMPANIES Company as a private companyMPANIES

Public or private
company PRIVATE

Rescission
COMPANY REMEDIES FOR BREACH Any company converted into a
LAW OF PROMOTER'S DUTIES
Damages PUBLIC private company pursuant to
Section 41 of CA 2016.
Claim for Secret profit
EFFECTS OF Corporate Body
INCORPORATION Separate legal entity Section 2(1) of CA 2016 defines a public company as a
Perpetual succession company other than a private company. Section 25(1)
(a) provides that the name of a public company should
Power to acquire and sell property end with the words Berhad or its abbreviation Bhd.
Right to sue and be sued
LIFTING OF
Limited liability of members
CORPORATE VEIL

Judicial Exception
Statutory Exception

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