PART III - CONSTITUTION OF COMPANIES DIVISION 1 - INCORPORATION
Section 14. Formation of companies.
(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;