(i) Subscribers are in a position to control membership.
(ii) Transfer of shares is restricted, members determine who may join.
(iii) It is the best vehicle for family business.
(iv) Subject to less statutory formalities for example, need not publish annual accounts or hold the
statutory meeting.
(v) Entitled to commence business on the date of incorporation.
maurice.mutuku answered the question on April 28, 2018 at 13:00
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