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    Question

    A Company may be formed for any lawful purpose by

    _____________, is a public company as per the Companies Act
    A Two or more person Correct Answer Incorrect Answer
    B Three or more persons Correct Answer Incorrect Answer
    C Seven or more persons Correct Answer Incorrect Answer
    D Fifteen or more persons Correct Answer Incorrect Answer

    Solution

    Explanation: Section 3. Formation of company: (1) A Company may be formed for any lawful purpose by: (a) seven or more persons, where the company to be formed is to be a public company; (b) two or more persons, where the company to be formed is to be a private company; or (c) One Person, where the company to be formed is to be One Person Company that is to say, a private company, by subscribing their names or his name to a memorandum and complying with the requirements of this Act in respect of registration.

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