SAFPL has two classes of shares on issue – ordinary shares and A Class shares. Under the terms of the SAFPL constitution, each A Class share currently carries an entitlement to vote on any resolution to amend the company’s constitution. The directors of SAFPL would like to have the constitution amended so that A Class cannot vote on constitutional amendments.

Kelvin is considering buying shares in a company. Kelvin asks you to explain to him what is meant by ?he ?erm? ?member? and ??hareholder?? and ?he differen? ?a?? in ?hich a person may become a member. He also asks you to explain who may be eligible to become a member, and how many members a company is permitted ?o ha?e? Finall?? Kel?in a?k? ?How does a person cease to be a member of a company??Required: Advise Kelvin.

A company's primary class of stock, which allows shareholders the right to vote in company matters, is known as:

on at of gestion In terms of Act 69 OF 1984, the formation and juristic personality of close corporations are as follows, EXCEPT: Select one: O a. Any one or more persons, not exceeding ten, who qualify for membership of a close corporation in terms of this Act, may form a close corporation and secure its incorporation by complying with the requirements of this Act in respect of the registration of its founding statement. O b. A corporation shall have the capacity and powers of a natural person of full capacity in so far as a juristic person is capable of having such capacity or of exercising such powers. O c. A corporation formed in accordance with the provisions of this Act is on registration in terms of those provisions a juristic person and continues, irrespective of the provisions of this Act, to exist as a juristic person notwithstanding changes in its membership until it is in terms of this Act deregistered or dissolved. O d. Subject to the provisions of this Act, the members of…