The minimum and maximum number of members required to establish a Private Limited Joint Stock Company are respectively__________________?
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Answer: C. 2 and 50
Explanation
Corporate governance laws establish statutory limits on the membership sizes permitted for private corporate entities. A Private Limited Company must have at least two founders to satisfy initial incorporation legal requirements. Company regulations restrict the maximum number of members in a private limited firm to fifty individuals. Joint stock companies offer limited liability protection to their shareholders based on regulatory incorporation statutes. Private companies restrict share transfers among the public and limit total membership numbers by corporate bylaws. Exceeding the maximum member threshold typically requires converting a private company into a public limited entity.
Option A lists seven and thirty which incorrectly states the legal minimum and maximum limits for private companies. Option B specifies ten members as the minimum which exceeds the statutory requirement of two founders. Option D provides incorrect numerical values that do not align with standard company law regulations.
- Subject
- Engineering
- Category
- Chemical Engineering
- Topic
- —
- Difficulty
- medium
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