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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 28

28.(1) For the purposes of this Act, "private company" means a company which
by its articles

(a)restricts the right to transfer its shares; and

(b)limits the number of its members to fifty, not including persons who are in
the employment of the company and persons who, having been formerly in the
employment of the company, were while in that employment, and have continued
after the determination of that employment to be, members of the company; and

(c)prohibits any invitation to the public to subscribe for any shares or
debentures of the company.

(2) Where two or more persons hold one or more shares in a company jointly,
they shall, for the purposes of this section, be treated as a single member.

© 1960 Crown Copyright

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