Question
Section 3(1): A company may be formed “for any lawful purpose”. Consider: (1) An unlawful object renders incorporation void. (2) Companies can be formed for charity and commerce alike. (3) Illegal objects can be cured by alteration of MOA. (4) The minimum number for private company is 2.
Solution
Illegal objects cannot be cured later (3 incorrect). (4) is correct under private company definition.
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