Section 5A
Capacity and powers of company
ActIn forceProvision 6 of 41
Section 5A
(1)
Subject to the provisions of this Act and any other written law and its memorandum or articles, a company has -
(a)
full capacity to carry on or undertake any business or activity, do any act or enter into any transaction; and
(b)
for the purposes of paragraph (a), full rights, powers and privileges.
(2)
A company may have the objects of the company included in its memorandum.
(3)
The memorandum or articles of a company may contain a provision restricting its capacity, rights, powers or privileges.
B. L.R.O. Y/2021
34
Companies