Outline the procedure that must be followed to register a private company in terms of the Companies Act 71 of 2008
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The procedure that must be followed to register a private company in terms of the Companies Act 71 of 2008
Explanation:
- To regulate the formation, registration, organisation, and management of businesses, as well as the capitalisation of profit corporations and the registration of international companies doing business in the Republic;
- To define the relationships between businesses and its shareholders, members, and directors;
- To ensure that company amalgamations, mergers, and takeovers are fair and efficient; to ensure that financially ailing enterprises are quickly rescued;
- To provide investors and third parties with proper legal redress in the case of companies;
- To create a Companies and Intellectual Property Commission and a Takeover Regulation Panel to implement the Act's regulations for corporations.
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