True. In South Africa, a private company, as defined by the Companies Act, is prohibited from offering its securities to the public. This means that private companies cannot sell shares to the general public and are limited in how they can raise capital compared to public companies. This restriction is part of the distinction between private and public companies in South African corporate law.
a memorandum of incorporation of a private company projibits the sale of its security to the public in south africa
true or false
1 answer
1 answer