Unformatted text preview: 4(1) of the Act as a company formed on the principle of having no limit placed on the liability of its members.
y An unlimited company can be converted to a limited company where a special resolution to that effect has been passed and lodged with the CCM for registration: s 25(1). y Limited by shares
Limited by shares
y authorised/nominal share capital
y – eg RM1 million y par/nominal value of shares
– eg 1 million RM1 shares y extent of liability – par value fully paid
– par value partly paid y name – Sdn Bhd
– ‘Berhad’ or ‘Bhd’ y y y A company limited by shares is defined in s 4(1) of the Act as a company formed on the principle of having the liability of its members limited by the memorandum to the amount (if any) unpaid on the shares respectively held by them.
This type of company is required by s 18 of the Act to state in its memorandum of association on the am...
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- Spring '14