Should and can they be empowered? As the debts were incurred by the company.
At the time, the governing law was Companies Actwhich required a minimum of seven members to form a company. This explains why we have LLPs which are not companies with more than 20 lawyers.
It was held that the company was entitled to retain the land. Adams v. All the shares in the company were owned by him or his nominee.
Likewise, the Registrar is obliged to refuse registration if the proposed company is likely to be used for unlawful purposes or any purposes prejudicial to peace, welfare, security, public order or morality in Malaysia or prejudicial to notional security or public interest: section 16 8.
Incorporation of a concern may convey benefits. They publish the newspapers and supply our Internet services. The situation still did not improve. The memorandum or articles, if any must also contain the names of at least two persons who are to be the first directors of the proposed company, otherwise, the Registrar is obliged not to register the documents: section 16 7.
It does not matter whether one of the members owned a huge number of shares or there is a close relationship among the members. Obtaining approval for the proposed company name 2.
The court then decided to allow personal representatives of the deceased to appoint new directors that could assent on the transfer of the shares.