2.6 - Private Company

Question 1

What must a private company end in?

Answer 1

Ltd or limited

Question 2

How does a private company offer its shares to the public?

Answer 2

A private company is prohibited from offering its shares to the public

Question 3

What is a private company not required to have?

Answer 3

Not required to have a secretary (and if they choose to have one, they do not need to be qualified)

Question 4

How often do private companies need to hold an AGM?

Answer 4

There is no necessity to hold an AGM

Question 5

What is the minimum share capital for a private company?

Answer 5

There is no minimum share capital for a private company

Question 6

How many directors are required in a private company?

Answer 6

Only one director

Question 7

What can a private company pass?

Answer 7

A private company can pass written resolutions, meaning they don’t need to come together and give notice to make decisions - can use email or polling