CHAPTER 386 COMPANIES ACT - Meae.gov.mt

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COMPANIES[CAP. 386.1CHAPTER 386COMPANIES ACTTo regulate, in place of the Commercial Partnerships Ordinance, limited liabilitycompanies and other commercial partnerships.1st January, 1996ACT XXV of 1995 as amended by Acts XXIV of 1995, IX and XXX of 1997, XVII of 1998,XXII of 2000, XVII of 2002, IV and IX of 2003, and II and XIII of 2004; Legal Notices 390 and391 of 2005, and 181 and 186 of 2006; Acts V and XII of 2006, and XV of 2007; Legal Notice425 of 2007; Acts IX of 2008, III of 2009 and XIX of 2010; Legal Notice 561 of 2010; Acts Xand XVI of 2011; Legal Notices 171, 337 and 338 of 2012; Acts III and XX of 2013, and XXIIof 2014; Legal Notice 478 of 2014; and Acts XXXI and XXXIII of 2015, and XIX, XXXVI andLIV of 2016 and Act XI of 2017.ARRANGEMENT OF ACTPART IPART IIPART IIIPART IVPART VTitle IChapter IChapter IIChapter IIIChapter IVChapter VChapter VIChapter VIIChapter VIIIChapter IXChapter XChapter XIChapter XIITitle IISub-title IChapter IChapter IIChapter IIIChapter IVChapter VSub-title IIChapter IShort titlePreliminary ProvisionsGeneral ProvisionsPartnership En Nom CollectifPartnership En CommanditeLimited Liability CompanyFormation and Functioning of CompaniesFormation of a company and matters incidental theretoChanges to a company’s share capitalCapital issues by public companiesAllotment of shares and debentures of companiesMaintenance of share capital and protection of class rightsMiscellaneous provisions about shares and debenturesMeetings and resolutionsManagement and administrationAuditorsAccounts, audit and annual returnDistribution of profits and assetsPrivate companyDissolution and Consequential Winding up of CompaniesWinding up by the courtGeneral provisionsOfficial receiverLiquidators in a winding up by the courtLiquidation committees in a winding up by the courtGeneral powers of the court in a winding up by the courtVoluntary winding upGeneral 27228-244245-247248-264265-294265-268

2CAP. 386.]COMPANIESArticlesChapter IIChapter IIIChapter IVSub-title IIIChapter IChapter IIChapter IIIChapter IVChapter VChapter VIPART VIPART VIIPART VIIITitle ITitle IIChapter IChapter IIChapter IIIPART IXChapter IChapter IIChapter IIIChapter IVPART XPART XIChapter IChapter IIChapter IIIPART XIIPART XIIIProvisions applicable to a member’s voluntary windingupProvisions applicable to a creditor’s voluntary winding upProvisions applicable to every voluntary winding upProvisions applicable to every mode of winding upEffect of appointment of liquidator and convening ofmeetingsProof and ranking of claimsEffects of winding up on antecedent transactionsQualification of liquidators and prohibition of certaintransfers by liquidatorsOffences antecedent to dissolution or in course of windingupSupplementary ProvisionsCompany ReconstructionsConversion Of Commercial PartnershipsAmalgamation Of Commercial PartnershipsAmalgamation Of Partnerships En Nom Collectif And EnCommanditeAmalgamation Of CompaniesMerger by acquisitionMerger by formation of a new companyAcquisition of one company by another which holdsninety per cent or more of its sharesDivision of CompaniesDivision by acquisitionDivision by the formation of new companiesDivision by a combination of a division by acquisitionwith a division by the formation of one or more newcompaniesDivision under the supervision of the courtAssociation En ParticipationBodies Corporate Constituted Outside MaltaProvisions as to establishment of place of business inMaltaIssues by companies constituted or incorporated or to beconstituted or incorporated outside Malta in a nonMember State or non-EEA StateProvisions as to the winding up of the affairs in Malta ofan oversea companyGeneralTransitional and Final 7428-431SCHEDULESFirst ScheduleSecond ScheduleModel regulations for a limited liability companyMatters to be specified in a prospectus and reports to be set outtherein

COMPANIESThird ScheduleFourth ScheduleFifth ScheduleSixth ScheduleSeventh ScheduleEighth ScheduleNinth ScheduleTenth ScheduleEleventh ScheduleTwelfth Schedule[CAP. 386.3Additional Provisions Applicable to the Annual Financial Accounts ofLarge Undertakings, Medium-Sized Undertakings and Certain OtherUndertakings, where applicable and Additional Provisions Applicable toConsolidated AccountsReport on Payments to governmentsIndividual accounts and directors’ report of an investment companywith variable share capitalContents of directors’ reportContents and form of annual returnConversion rules applicable on a change in the currency in which theshare capital of a company is expressed and the correspondingreporting currencyExplanation of expressions used in sub-article (2) of article 2 andprovisions supplementary theretoPartnerships en commandite or limited partnershipsPenaltiesTable of Concordance

4CAP. 386.]Short title.1.COMPANIESThe short title of this Act is the Companies Act.PART I - PRELIMINARY PROVISIONSInterpretation.Amended by:XXIV. 1995.362;IV. 2003.26;L.N. 391 of 2005;XV. 2007.2;L.N. 425 of 2007;IX. 2008.4;X. 2011.68;L.N. 338 of 2012;XX. 2013.72;XXII. 2014.15;XXXI. 2015.3;XIX. 2016.16;XI. 2017.2.2. (1) In this Act, unless the context otherwise requires, thefollowing expressions have the meaning hereby assigned to them "annual accounts" means the individual accounts required byarticle 167 and, where applicable, also the consolidated accountsrequired by article 170;"appointed day" means the date appointed by the Minister for thecoming into force of this Act;"approval" in relation to a prospectus means the positive act atthe outcome of the scrutiny of the completeness of the prospectusby the Registrar or the regulatory authority of the Member State orEEA State, as the case may be, including the consistency of theinformation given and its comprehensibility, within the meaning ofthe Prospectus Directive;"associated undertaking" means an under-taking in whichanother undertaking has a participating interest, and over whoseoperating and financial policies that other undertaking exercisessignificant influence. An undertaking is presumed to exercise asignificant influence over another undertaking where it has 20% ormore of the shareholders’ or members’ voting rights in that otherundertaking;Cap. 281."auditor" shall have the meaning assigned to it in theAccountancy Profession Act or regulations issued in terms thereof;"body corporate" means any entity having a legal personalitydistinct from that of its members, and includes a foreigncorporation;"certificate of registration" when used in relation to a companymeans a certificate of registration issued under this Act or under theOrdinance and the words "registration", "registered" and theirderivatives shall be construed accordingly;"commercial partnership" means a company or other commercialpartnership formed and registered under this Act or formed andregistered under the Ordinance where applicable;"the Community" means the European Community establishedby the Treaty of Rome in 1957 and amended institutionally andotherwise in 1986 by the Single European Act, in 1993 by theTreaty on European Union, in 1997 by the Treaty of Amsterdamand in 2001 by the Treaty of Nice, and as amended by accessionagreements and as may be further amended from time to time;"company" means a company formed and registered under Part Vof this Act or the Ordinance;"company secretary" means a person being an individual whoholds the office of a company secretary in terms of article 138;"consolidated accounts" means the accounts required by article170;

COMPANIES[CAP. 386."contributory" shall, unless otherwise stated, have the meaningassigned to it by articles 215 to 217;"court" means the Civil Court, First Hall;"debenture" includes debenture stock, bonds and any other debtsecurities of a company;"director" includes any person occupying the position of directorof a company by whatever name he may be called carrying outsubstantially the same functions in relation to the direction of thecompany as those carried out by a director;"directors’ report" in relation to a company, means the directors’report required by article 177;"EEA State" means a State which is a contracting party to theagreement on the European Economic Area signed at Oporto on the2nd May, 1992 as amended by the Protocol signed at Brussels onthe 17th March, 1993 and as amended by any subsequent acts;"equity securities" means shares and other securities which areequivalent to shares in companies or which are convertible to suchshares, or securities which give such right of conversion, providedsuch securities of the latter type are issued by the issuer of theunderlying shares or by an entity belonging to the group of the saidissuer, and the term ‘non-equity securities’ shall be construed asreferring to all securities that are not equity securities;"euro" refers to the currency unit of the participating states in theEuropean Monetary Union;"exempt company" means a company satisfying the conditionslaid down in sub-article (2) of article 211;"expert", except where otherwise specifically defined in this Act,means an auditor whether or not assisted by a specialist valuer;"extraordinary resolution" has the meaning given to it by article135;"group company", in relation to any company, means any bodycorporate which is that company’s subsidiary or parent company, ora subsidiary of that company’s parent company, and the term"group" shall be construed accordingly as well as meaning a parentundertaking and all its subsidiary undertakings;"home Member State" in relation to a prospectus means:(i)for all Community issuers of securities which are notmentioned in paragraph (ii) hereof, the Member Statewhere the issuer has its registered office;(ii) for any issues of non-equity securities whosedenomination per unit amounts to at least one thousandeuro (1,000), and for any issues of non-equitysecurities giving the right to acquire any transferablesecurities or to receive a cash amount, as aconsequence of their being converted or the rightsconferred by them being exercised, provided that theissuer of the non-equity securities is not the issuer of5

6CAP. 386.]COMPANIESthe underlying securities or an entity belonging to thegroup of the latter issuer, the Member State where theissuer has its registered office, or where the securitieswere offered to the public, at the choice of the issueror the offeror, as the case may be. The same regimeshall be applicable to non-equity securities in acurrency other than the euro, provided that the value ofsuch minimum denomination is nearly equivalent to onethousand euro (1,000);(iii) for all issuers of securities incorporated in a thirdcountry, which are not mentioned in paragraph (ii)hereof, the Member State where:(a) the securities are intended to be offered to thepublic for the first time after the date of entryinto force of this provision; or(b) where the first application for admission totrading on a regulated market is made, at thechoice of the issuer, the offerer or the personasking for admission, as the case may be, subjectto a subsequent election by issuers incorporatedin a third country in the followingcircumstances:i. where the home Member State was notdetermined by their choice; orii. in accordance with point (1)(i)(iii) of Article2 of Directive 2004/109/EC of the EuropeanParliament and of the Council of 15December 2004 on the harmonisation oftransparency requirements in relation toinformation about issuers whose securitiesare admitted to trading on a regulatedmarket;"host Member State" in relation to a prospectus means the Statewhere an offer to the public is made, when different from the homeMember State;"individual accounts" means the accounts required by article167;"investment company with fixed share capital" means a publiccompany falling within the terms of article 194;"investment company with variable share capital" means acompany falling within the terms of article 84;"issuer" means an entity having a legal personality distinct fromthat of its members which issues or proposes to issue securities;Cap. 345."Maltese regulated market" means a regulated market dulyauthorised by the competent authority in accordance with article 4of the Financial Markets Act;"member", except where otherwise specifically defined, means ashareholder of a company and a partner in any other commercialpartnership;

COMPANIES[CAP. 386."Member State" means a member state of the EuropeanCommunity;"Minister" means, unless otherwise stated, the Ministerresponsible for the registration of commercial partnerships;"money market instruments" means those classes of instrumentswhich are normally dealt in on the money market, such as treasurybills, certificates of deposit and commercial papers and excludinginstruments of payment;"name" in relation to an individual means that individual’s firstname or names and surname;"notice" shall mean a notice in writing of any kind;"offering programme" means a plan which would permit theissuance of non-equity securities, including warrants in any form,having a similar type and, or class, in a continuous or repeatedmanner during a specified issuing period;"officer" in relation to a company, includes a director, manageror company secretary, but does not include an auditor;"the Ordinance" means the Commercial Partnerships Ordinance*;"ordinary resolution" has the meaning given to it by article 135;"oversea company" means a body corporate constituted orincorporated outside Malta;"participating interest" means rights in the capital of otherundertakings, whether or not represented by certificates, which, bycreating a durable link with those undertakings, are intended tocontribute to the activities of the undertaking which holds thoserights. The holding of part of the capital of another undertaking ispresumed to constitute a participating interest where it exceedstwenty per cent of the said capital. An interest in shares includes aninterest which is convertible into an interest in shares and an optionto acquire an interest in shares. Interests in shares held bysubsidiary undertakings or held by third parties on behalf of thecompany or its subsidiary undertakings shall be deemed to be heldby the company;"person making an offer", or "offeror", means a legal entity orindividual which offers securities to the public;"prescribed" means prescribed by regulations made or deemed tohave been made under this Act, and where no regulation is in forcein respect of a matter which may or is to be prescribed, meansdetermined, approved or allowed by the Minister;"principal office" means, in relation to an undertaking not havinga registered office, the office which, for the purposes of thatundertaking serves the same or a similar purpose as the registeredoffice of a commercial partnership under this Act;"private company" means a private company as defined in article209;*Repealed by this Act.Cap. 168.7

8CAP. 386.]COMPANIES" p r o s p e c t u s " m e a n s a n y p r o s p e c t u s , n o t i c e , c i r c u l a r,advertisement or other invitation, offering to the public forsubscription any shares or debentures of a company or othercommercial partnership;"the Prospectus Directive" means Directive 2003/71/EC of theEuropean Parliament and of the Council of 4 November, 2003 onthe prospectus to be published when securities are offered to thepublic or admitted to trading and amending Directive 2001/34/EC,as may be amended from time to time and includes anyimplementing measures that have been issued or may be issuedthereunder;Cap. 281."public company" means a company which is not a privatecompany;"public-interest entities" means under-takings or entities asdefined in article 2(1) of the Accountancy Profession Act;"Registrar" means the person appointed by the Minister pursuantto article 400;Cap. 345."regulated market" means a regulated market as defined in theFinancial Markets Act and includes a Maltese regulated market;"regulatory authority" means a body or bodies designated by aMember State other than Malta or an EEA State to carry out dutiesprovided for in the Prospectus Directive;"resident", for the purposes of this Act, means (a) any natural person regardless of nationality who isordinarily resident in Malta;(b) any body corporate established under the law of Malta;"security" includes a share, debenture or any other similarinstrument issued by a company or other commercial partnership:Provided that for the purpose of sub-article (3) of thisarticle and of Chapter III of Part V and Part A of the SecondSchedule of this Act, the definition of "security" does not includemoney market instruments having a maturity of less than twelvemonths;"securities issued in a continuous or repeated manner" meansissues on an ‘as required’ basis (on tap) or at least two separateissues of securities of a similar type and, or class over a period oftwelve months;"share" includes stock except where a distinction between stockand shares is expressed or implied;"shareholder" means a person entered in the register of membersof a company pursuant to article 123;" s m a l l a n d m e d i u m - s i z e d e n t e r p r i s e s " or " S M E s " m e a n scompanies which, according to their last annual or consolidatedaccounts, meet at least two of the following three criteria: anaverage number of employees, during the financial year, of lessthan 250, a total balance sheet not exceeding forty-three million

COMPANIES[CAP. 386.euro (43,000,000) and an annual net turnover not exceeding fiftymillion euro (50,000,000);"system of interconnection of registers" means the system ofinterconnection of central, commercial and companies registerscomposed of the registers of Member States and EEA States, theEuropean central platform, and the European e-Justice portalserving as the European electronic access point, in terms ofDirective 2009/101/EC, as amended by Directive 2012/17/EU;"true and fair view" refers (a) in the case of individual accounts, to the requirementsof article 167, and(b) in the case of consolidated accounts, to therequirements of article 171;"undertaking" means a body corporate or unincorporate whichcarries on a trade or business.(2)(a) For the purposes of this Act "parent company" is acompany which (i)has a majority of the members’ voting rights inanother undertaking (a subsidiary undertaking);or(ii) has the right to appoint or remove a majority ofthe members of the board of directors or personsentrusted with the administration of anotherundertaking (a subsidiary undertaking) and is atthe same time a member of that undertaking; or(iii) has the right to exercise a dominant influenceover an undertaking (a subsidiary undertaking)pursuant to a contract entered into with thatundertaking or to a provision in thatundertaking’s memorandum or articles ofassociation; or(iv) is a member of an undertaking and controlsalone, pursuant to an agreement with othermembers of that undertaking (a subsidiaryundertaking), a majority of members’ votingrights in that undertaking; or(v) holds a participating interest in anotherundertaking and has the power to exercise, oractually exercises a dominant influence over thatundertaking (a subsidiary undertaking) or itmanages the subsidiary undertaking on a unifiedbasis together with it;and "parent undertaking" shall be construedaccordingly and shall include an undertaking whichcontrols one or more subsidiary undertakings.(b) For the purposes of the definition in paragraph (a), theprovisions of the Ninth Schedule shall apply.(c) The term "subsidiary undertaking" shall be construed inaccordance with paragraph (a) and shall include an9

10CAP. 386.]COMPANIESundertaking controlled by a parent undertaking includingany subsidiary undertaking of an ultimate parentundertaking.(d) References to shares of undertakings in this Act shallinclude references to beneficial interests inundertakings where the capital of such undertakings isnot divided into shares; and references to "relevantshares", "the issue of equity shares", "the issued sharecapital" and "the nominal value of the equity shares"shall be construed accordingly.(e) Other terms appropriate to companies shall beconstrued, in relation to an undertaking which is not acompany, as references to the corresponding persons,officers, documents or organs, as the case may be,appropriate to undertakings of that description.(3)(a) For the purposes of this Act, "offer of securities to thepublic" means a communication to persons in any formand by any means, presenting sufficient information onthe terms of the offer and the securities to be offered,so as to enable an investor to decide to purchase orsubscribe to these securities. This definition shall alsobe applicable to the placing of securities throughfinancial intermediaries.(b) The following shall not constitute offers made to thepublic:(i) an offer of securities made only to qualifiedinvestors; or(ii) an offer made to less than one hundred and fiftypersons per Member State or EEA State, notincluding qualified investors; or(iii) an offer where the minimum considerationwhich may be paid by any person for securitiesacquired pursuant to the offer is at least onehundred thousand euro (100,000.00), for eachseparate offer; or(iv) an offer of securities where the nominal value ofeach security amounts to at least one hundredthousand euro (100,000.00), or the totalconsideration of the offer in the European Unionand the EEA shall not exceed one hundredthousand euro (100,000.00), which limit shall becalculated over a period of twelve months; or(v) an offer where the total consideration of thesecurities for the offer in the European Union andthe EEA does not exceed five million (5,000,000)euro, which limit shall be calculated over a periodof twelve months; or(vi) an offer in respect of non-equity securitiesissued in a continuous or repeated manner bycredit institutions where the total consideration ofthe offer in the European Union and the EEA, over

COMPANIES[CAP. 386.a period of twelve months is less than seventy fivemillion euro (75,000,000), provided that thesesecurities:(a) are not subordinated, convertible orexchangeable; and(b) do not give a right to subscribe to oracquire other types of securities and theyare not linked to a derivative instrument:Provided that any subsequent resale of securitieswhich were previously the subject of one or more ofthe types of offer mentioned in sub-paragraphs (i) to(iv) shall be regarded as a separate offer and thedefinition set out in paragraph (a) regarding an "offerof securities to the public" shall apply for the purposeof deciding whether that resale is an offer of securitiesto the public. The placement of shares throughfinancial intermediaries shall be subject to publicationof a prospectus if none of the conditions mentioned insub-paragraphs (i) to (iv) above are met for the finalplacement:Provided further that in the case of any such subsequentresale of securities or final placement of securitiesthrough financial intermediaries, it is not necessary todraw up another prospectus as long as a valid prospectusis available in accordance with paragraph 21 of Part A ofthe Second Schedule to this Act and the issuer or theperson responsible for drawing up such a prospectusconsents to its use by means of a written agreement:Provided further that in respect of offers mentioned insub-paragraphs (v) and (vi), an offeror may draw up aprospectus in accordance with the provisions of Part Aof the Second Schedule;(c) Where the offer is made by a commercial partnership,not being a company and whether formed or registeredunder this Act or any other Act, the provisions of thisarticle shall apply to such offer mutatis mutandis.(d) The Minister may by Order published in the Gazetterevise or amend any of the figures or amounts referredto in this article.(e) For the purposes of this Act "qualified investors" meanspersons or entities that are described in points (1) to (4)of Section I of Annex II to Directive 2004/39/EC of theEuropean Parliament and of the Council of 21 April 2004on markets in financial instruments, and persons orentities who are, on request, treated as professionalclients in accordance with Annex II to Directive 2004/39/EC or recognised as eligible counterparties inaccordance with Annex II to Directive 2004/39/ECunless they have requested that they be treated as nonprofessional clients. Investment firms and creditinstitutions shall communicate their classification on11

12CAP. 386.]COMPANIESrequest to the issuer without prejudice to the relevantlegislation on data protection. Investment firmsauthorised to continue considering existing professionalclients as such in accordance with article 71(6) ofDirective 2004/39/EC shall be authorised to treat thoseclients as qualified investors under this provision.For the purposes of sub-paragraph (iv), the criteria areas follows:(i) the investor has carried out financialtransactions of a significant size on securitiesmarkets at an average frequency of, at least, tenper quarter over the previous four quarters;(ii) the size of the investor’s securities );(iii) the investor works or has worked for at least oneyear in the financial sector in a professionalposition which requires knowledge of securitiesinvestment.For the purposes of sub-paragraphs (iv) and (v), theRegistrar shall keep a register of natural persons andsmall and medium-sized enterprises considered asqualified investors. The register shall be available toall issuers. Each natural person or small and mediumsized enterprises wishing to be considered as aqualified investor shall request to be included in suchregister and each registered investor may decide to optout at any moment.Cap. 281.(4) For the purposes of this Act, "generally acceptedaccounting principles and practice" shall have the meaningassigned to it in the Accountancy Profession Act or regulationsissued in terms thereof.(5) For the purposes of this Act, where a document required tobe delivered to the Registrar for registration is required to state thename and residence or address of a person, it shall be deemed torequire further the official identification, by number or otherwiseof such person, as may be applicable.(6) For the purposes of this Act, where any document, which isrequired to be delivered or given to or served on the Registrar, is tobe signed by an expert and such expert is a company, partnership orother body corporate, such document shall carry the signature of anindividual who is a director, partner or equivalent officer, as thecase may be, duly authorised to sign on its behalf.(7) In this Act and in any regulations made thereunder, if thereis any conflict between the English and Maltese texts, the Englishtext shall prevail.References in otherActs.Amended by:IV. 2003.27.3. (1) References in any other law to the Ordinance shall beconstrued as a reference to this Act and references in any other lawto a provision of the Ordinance shall be construed, insofar as

COMPANIES[CAP. 386.13applicable, as a reference to the corresponding provision of thisAct; and references in any other law to a partnership formed andregistered under the Ordinance shall be construed as a reference, oras including a reference, to a commercial partnership formed andregistered under this Act.(2) The table of concordance set out in the Twelfth Schedule tothis Act may be used, insofar as applicable, in determining thecorresponding provisions in accordance with sub-article (1).3A. This Act, in part, seeks to transpose, implement and giveeffect to the provisions and requirements of the following EuropeanUnion Directives and Regulations, as may be amended from time totime, including any implementing measures that have been or maybe issued thereunder:(a) Sixth Council Directive 82/891/EEC of 17 December1982 based on Article 54(3)(g) of the Treaty,concerning the division of public limited liabilitycompanies;(b) Eleventh Council Directive 89/666/EEC of 21December 1989 concerning disclosure requirements inrespect of branches opened in a Member State bycertain types of company governed by the law ofanother State;(c) Directive 2003/58/EC of 15 July 2003 amendingCouncil Directive 68/151/EEC, as regards disclosurerequirements in respect of certain types of companies;(d) Directive 2003/71/EC of the European Parliament andof the Council of 4 November 2003 on the prospectusto be published when securities are offered to thepublic or admitted to trading and amending Directive2001/34/EC;(e) Directive 2004/109/EC of the European Parliamentand of the Council of 15 December 2004 on theharmonisation of transparency requirements in relationto information about issuers whose securities areadmitted to trading on a regulated market andamending Directive 2001/34/EC;(f) Directive 2005/56/EC of the European Parliament andof the Council of 26 October 2005 on cross-bordermergers of limited liability companies;(g) Directive 2006/43/EC of the European Parliament andof the Council of 17 May 2006 on statutory audits ofannual accounts and consolidated accounts, amendingCouncil Directives 78/660/EEC and 83/349/EEC andrepealing Council Directive 84/253/EEC, whichDirective was itself amended by Directive 2014/56/EUof the European Parliament and of the Council of 16April 2014;(h) Directive 2006/68/EC of the European Parliament andof the Council of 6 September 2006 amending CouncilDirective 77/91/EEC as regards the formation ofTransposition andimplementation ofEU instruments.Added by:XX. 2013.73.Amended by:XXII. 2014.16;XXXI. 2015.4;XIX. 2016.17;XXXVI. 2016.18;LIV. 2016.3.

14CAP. 386.]COMPANIES(i)(j)(k)(l)(

COMPANIES [CAP. 386. 1 CHAPTER 386 COMPANIES ACT To regulate, in place of the Commercial Partnerships Ordinance, limited liability companies and other commercial partnerships. 1st January, 1996 ACT XXV of 1995 as amended by Acts XXIV of 1995, IX and XXX of 1997, XVII of 1998, XXII of 2000

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