COMPANY: What is it? [Sec.3]
Section 3 (1) (i) of the Act defines: ³Acompany means a company formed andregistered under this Act or an existingcompany.´
That is, a company is an
association of persons
united for a common object.
t is a form of
herethe funds of a large number of investors aremanaged by a fe
persons for the purpose of earning profits
hich are shared by all theinvestors.