It is important to note the difference between a Regulated and a Non-Regulated Company, in terms of the Companies Act, since it impacts on the Memorandum of Incorporation.
In terms of Section 117 of the Act, a Regulated Company means a company to which sections 117-127, Chapter 5 of the Act and the Takeover Regulations apply, as determined in accordance with Section 118(1) and (2).
A regulated company is a company to which Part B (the authority of the Takeover Regulation Panel, established ito section 196 and the Takeover Regulations), Part C (the Regulation of Affected Transactions and Offers) and the Takeover Regulations apply.
A private profit company will be deemed to be a regulated company if it meets one of two criteria , namely:
