Companies Act

This section gives the Act’s short title: it may be cited as the Companies Act. This section defines many terms used in the Act, such as company, director, registrar, officer, and several company document and meeting terms. The Minister must encourage local participation in company capital structures when satisfied it is economically necessary for Malawi, and may negotiate with companies to set up and carry out a scheme for that participation. Two or more persons associated for a lawful purpose may form an incorporated company if they sign a memorandum of association and comply with the Act’s registration requirements. This section says what kinds of companies exist, how private companies are defined, and that a company limited by guarantee cannot have shares.