ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART III - CONSTITUTION OF COMPANIES
DIVISION 1 - INCORPORATION

 
Section 14. Formation of companies.
 
Section 14. Formation of companies. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) Subject to this Act any two or more persons associated for any lawful purpose may by subscribing their names to a memorandum and complying with the requirements as to registration form an incorporated company.

(2) A company may be—

    (a) a company limited by shares;

    (b) a company limited by guarantee;

    (c) a company limited both by shares and guarantee; or

    (d) an unlimited company.

Prohibition of unincorporated associations of more than twenty members for gain

(3) An association or partnership shall not be formed for the purpose of carrying on any business which has for its object the acquisition of gain by the association or partnership or the individual members thereof unless—

    (a) it is an association or partnership formed for the purpose of carrying on any profession or calling which is declared by the Minister to be a profession or calling which is not customarily carried on by an association or partnership incorporated under this Act;

    (b) in the case of any other association or partnership, it consists of not more than twenty members;

    (c) it is incorporated under this Act; or

    (d) it is formed in pursuance of some other written law or letters patent.