SCENARIO Evelyn, Francis and George, run a business buying and
selling wigs. They have been advised by their lawyer to
form a private limited company to run the business,
They have contacted you for a second opinion,
particularly in respect of:
(a) The extent to which their liability will be limited;
(b) Whether they will be able to exercise the same
control over the private company as they did with
the partnership;
(c) The extent to which they will have the same right
to be involved in the management of the private
limited company, and
(d) The public disclosure to which the business would
be subjected to as a private limited company,
Having discussed these aspects with specific
reference to the Companies Act, 2019 (Act 992),
advise them of the choice they should make
between the two alternatives, or any other options
available to them.​