11. Types of companies

(1) The types of companies that may be incorporated under these Regulations are:

• (a) Private Companies, if they meet the requirements in section 36(1) (Requirements for Public and Private Companies); and
• (b) Public Companies, if they meet the requirements in section 36(25) (Requirements for Public and Private Companies).

(2) A Foreign Company may be registered under these Regulations as a Recognised Company if it meets the requirements in Part 12 (Recognised Companies).

12. Legal personality

A Company incorporated under these Regulations has a separate legal personality from that of its Shareholders. The Liabilities of a Company, whether arising in contract, tort or otherwise, are the Company’s Liabilities and not the personal Liabilities of any Shareholder or Officer of the Company, except where otherwise provided under these Regulations.