16.2 The number of participants in the businessThere is no limit upon the maximum number of shareholders in a limited liability company1, or partners in a trading partnership2, or members of a limited liability partnership.In relation to minimum number of participants, under the regime imposed by the Companies Act 1985, there was a potential problem in the case of a sole proprietor who wished to operate through the medium of a limited liability company3. This was because the 1985 Act required a company to have at least two officers4 (for a public company this had to be two directors,
There is no limit upon the maximum number of shareholders in a limited liability company1, or partners in a trading partnership2, or members of a limited liability partnership.
In relation to minimum number of participants, under the regime imposed by the Companies Act 1985, there was a potential problem in the case of a sole proprietor who wished to operate through the medium of a limited liability company3. This was because the 1985 Act required a company to have at least two officers4 (for a public company this had to be two directors,
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