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    ivylen127's Avatar
    ivylen127 Posts: 3, Reputation: 1
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    #1

    Mar 29, 2009, 07:00 PM
    What type of this company is
    Charles is the managing director of a very profitable policy research company, Prudential Regulatory Research Ltd (PRR). He originally set up this business with his parents in 1994 after graduating from a Bachelor of Commerce degree at the University . PRR’s board has three directors: Charles, his father Winston, who is the non-executive chairman, and Charles’ sister Martha. PRR is not listed on the ASX.

    And this company has a constitution.

    Is this company a proprietary company?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Mar 29, 2009, 07:16 PM

    Is this company a proprietary company?

    YES.

    Usually the word PTY is incorporated in the name.
    ivylen127's Avatar
    ivylen127 Posts: 3, Reputation: 1
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    #3

    Mar 29, 2009, 07:56 PM

    So what is the procedure if a director of this company wish to call a meeting of member? Can u explain it specified please?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #4

    Mar 29, 2009, 09:58 PM

    Private corporations, unlike public corporations, have a limited number of owners. Some private corporations are large firms. But most are small companies in which all or most stock is held by family members. In such corporations, owners usually manage the company, rather than appoint others to do so. There is no open market for the sale of stock of private corporations.
    The director in question has to approach
    The Secretary of the Company with a view of calling a formal meeting among the shareholders.
    The articles of association usually specify
    All things relative to meetings and the
    Necessary previous time to call such meetings.
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