Differences between private and public company
| |PRIVATE COMPANY |PUBLIC COMPANY | |Membership |Max 50. Derived from s15 (1). Insert in M&A. |No restriction | |Name |Sdn or Sdn Berhad S22(4) |Berhad | |Restrictions set out under |Must insert in M&A |Not applicable | |s 15(1) | | | |Commencement of business and |Immediately after incorporation |Only after the issuance of Certificate of Commencement of Business | |borrowing power | |(Form 23) by the Registrar of Companies. | |(s 52). | | | |Statutory Meeting and Statutory |Not applicable. | A statutory report must be lodged with CCM and a statutory meeting | |Report (Form 51)(s 142). | |must be held | |Restriction on |No prospectus or Statement in Lieu of Prospectus|A prospectus in lieu of prospectus must be issued before issuing any | |Allotment of shares. |is required to be issued when allotting shares. |shares of securities. S50 | | |...
Please join StudyMode to read the full document