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  • Ypes OF Ompanies: Chartered Companies

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    MariahSarmad
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    This document outlines different types of companies and how they are classified. There are three main types of companies: chartered companies which are granted royal charters or established under ordinance; statutory companies which are formed by a special act of legislation; and registered companies which are registered under the Companies Ordinance 1984. Registered companies can be further divided into private limited companies which have 2-50 members and limited liability, or public companies which have a minimum of 7 members and freely transferable shares. Private limited companies offer more privacy while public companies must issue prospectuses when inviting investment from the public.

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    lecture 6

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    This document outlines different types of companies and how they are classified. There are three main types of companies: chartered companies which are granted royal charters or established under ordinance; statutory companies which are formed by a special act of legislation; and registered companies which are registered under the Companies Ordinance 1984. Registered companies can be further divided into private limited companies which have 2-50 members and limited liability, or public companies which have a minimum of 7 members and freely transferable shares. Private limited companies offer more privacy while public companies must issue prospectuses when inviting investment from the public.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    8 views6 pages

    Ypes OF Ompanies: Chartered Companies

    Uploaded by

    MariahSarmad
    This document outlines different types of companies and how they are classified. There are three main types of companies: chartered companies which are granted royal charters or established under ordinance; statutory companies which are formed by a special act of legislation; and registered companies which are registered under the Companies Ordinance 1984. Registered companies can be further divided into private limited companies which have 2-50 members and limited liability, or public companies which have a minimum of 7 members and freely transferable shares. Private limited companies offer more privacy while public companies must issue prospectuses when inviting investment from the public.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    TYPES OF COMPANIES

    Chartered Companies
    Royal chartered
    Ordinance 1984
    Statutory Companies
    Special act of legislative
    Under an ordinance
    Special rights and privileges
    Registered Companies
    Companies ordinance 1984
    FUNCTIONAL DIVISION
    Private Limited Company
    Minimum two
    Maximum 50
    Transfer of shares
    Suits
    Limited liability
    As private as possible
    Public Company
    Minimum seven
    Prospectus
    Limited liability to shares
    Shares freely sold
    REGISTERED COMPANIES
    Company limited by shares
    Liability to value of shares
    Word limited
    Most industrial and commercial companies
    Company limited by guarantee
    Liability upto guaranteed amount
    Mostly non profit companies
    Two types
    Share capital
    No share capital
    Entrance fee, subscription
    REGISTERED COMPANIES
    An Unlimited Company
    Association not for profit
    Limited liability
    Without word limited
    Privileges and obligations

    Classification on the basis of ownership
    Holding companies
    Subsidiary company
    Control of formation of directors
    Voting rights
    shares
    PRIVATE LIMITED COMPANY
    Features
    Advantages
    Disadvantages
    PVT(LTD)CONVERSION INTO PUBLIC
    COMPANY
    Alteration in articles
    Rights to transfer its share
    Number of members
    Invitation to public for shares
    Within 14 days file prospectus
    Increase minimum members

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