Publications

Incorporation and its Effects Section 17(3) of the Companies Act (Cap 50) (“the Act”) makes it clear that an unincorporated association “formed for the purpose of carrying on any business that has for its object the acquisition of gain by the company” may not consist of more than 20 persons.

In this article, we discuss specific circumstance(s) where the shareholders may feel that the company ought to enforce certain corporate rights but its directors refuse to do so.