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MRL2601 PORTFOLIO MEMO - MAY/JUNE 2022 - SEMESTER 1 R399,99   Add to cart

Exam (elaborations)

MRL2601 PORTFOLIO MEMO - MAY/JUNE 2022 - SEMESTER 1

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MRL2601 PORTFOLIO MEMO - MAY/JUNE 2022 - SEMESTER 1 QUESTION 1 CONFIDENTIAL Page 7 of 10 1.1 Name the different types of companies provided for in the Companies Act 71 of 2008. (5) 1.2 Describe the procedure for amending the Memorandum of Incorporation of a company. (5) 1.3 Explain whether i...

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  • June 1, 2022
  • 15
  • 2020/2021
  • Exam (elaborations)
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QUESTION 1


1.1 Name the different types of companies provided for in the Companies Act 71
of 2008. (5)


a. Profit companies -
1. public companies,
2. private companies,
3. personal liability companies,
4. state-owned companies


b. Non-profit companies


1.2 Describe the procedure for amending the Memorandum of Incorporation of
a company. (5)


Changes may be made to the Memorandum of Incorporation, unless the
amendment of a provision is prohibited by the Memorandum itself in terms of
section 15(2)(c). Such amendments may be in the form of


• a new Memorandum of Incorporation, or
• amendments to the existing provisions of the Memorandum of Incorporation Note
that, if changes are in the form of a new Memorandum of Incorporation, the new
Memorandum of Incorporation will replace the existing Memorandum of
Incorporation.


A company’s Memorandum of Incorporation may be amended
• in compliance with a court order (An amendment in terms of a court order is given
effect via a board resolution and there is no need for a shareholders’ special
resolution.)
• by the board in terms of sections 36(3) and (4) (These allow the board to amend
the authorised share capital of the company, unless the Memorandum of
Incorporation provides otherwise.)

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