Differences Between Private and Public Company
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 |
|
| |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 |
|