Answer to Question #193755 in Law for Matheus Shongola

Question

Montavi (Pty) Ltd is a private company with the following shareholders:

 

1. Sem, who has been declared a prodigal by the High Court
2. Nusiku, Sem’s 25 year old daughter
3. Nelson, Sem’s 25 year old son
4. Oshini CC, the trustee of a testamentary trust with Nelson and Okathimeti (Pty) Ltd as the only beneficiaries of the trust
5. Starlight (Pty) Ltd, the curator of the insane Ouma Kwatha, mother of Sem

 

During a general meeting of the members of Montavi (Pty) Ltd, it is decided that it would be to the benefit of all if Montavi (Pty) Ltd were to convert into a close corporation. Montavi (Pty) Ltd wants to know whether it can be converted into a close corporation. Advise.

Answer 1

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