35. Limited Liability

(1) The Liability of a Shareholder of a Company is limited to the amount (if any) that remains unpaid on the Shares held by the Shareholder.

(2) A reference to a Private Company or a Public Company includes a reference to a Company Limited by Shares incorporated in accordance with the AIFC Rules on Registration and Recognition of the Astana International Financial Centre Participants 2017.

36. Requirements for Public and Private Companies

(1) A Private Company must:

• (a) have at least 1 Shareholder; and
• (b) not be a Public Company.

(2) A Public Company:

• (a) is not prohibited under section 50 (Prohibition of public offers by Private Companies) from making an offer of its Securities to the Public; and
• (b) must have the share capital required by section 43 (Minimum share capital); and
• (c) must have at least 1 Shareholder, but may otherwise have any number of Shareholders.

37. Name of Private Company

(1) A Private Company must use only the name of the Company entered in the Register, and must ensure that, whenever it uses that name, the name is immediately followed by the word ‘Limited’ or the abbreviation ‘Ltd.’.

(2) Contravention of this section is punishable by a fine.

38. Name of Public Company

(1) A Public Company must use only the name of the Company entered in the Register and must ensure that, whenever it uses that name, the name is immediately followed by the words ‘Public Limited Company’ or the abbreviation ‘PLC’ or ‘plc’.

(2) Contravention of this section is punishable by a fine.