Classification of companies, Business Law and Ethics

Classification of Companies:

Section 389 of the Companies Act provides that "no company there association or may partnership consisting of more than twenty persons shall be formed... unless it is registered as a company under this Act so there it t is formed in pursuance of some other Act, Act of the United Kingdom or of letters patent".

Three types of company are provided for under this section as like are:

(a)     Chartered companies.

(b)     Statutory companies.

(c)     Registered companies.

Posted Date: 1/12/2013 1:54:28 AM | Location : United States

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