Week 11 - Private Company Flashcards
1
Q
What must a private company’s name end with?
A
The word ‘limited’ or ‘ltd’
2
Q
What is a private company prohibited from doing?
A
A private company is prohibited from offering it’s shares to the public
3
Q
What does a private company not require?
A
A private company does not require a secretary, and if they choose to have one, they do not need to be qualified
4
Q
What does a private company not need to hold?
A
An AGM (annual general meeting)
5
Q
What is the minimum share capital of a private company?
A
No minimum share capital is prescribed
6
Q
How many directors are required?
A
Only one
7
Q
What can a private company do that other companies can’t?
A
Pass written solutions - don’t have to come together and give notice
