n Without Prejudice - The future for non-profit entities using the company vehicle : company law
|Article Title||The future for non-profit entities using the company vehicle : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Jun 2010|
|Pages||30 - 32|
For non-profit organisations that want to incorporate as a company in terms of the current Companies Act (63 of 1971), the advantages offered by the company vehicle include limited liability because of the company's legal personality and certainty as to the law applicable to the entity (statute is seen to be more certain and accessible than the common law). Also, the company vehicle results in increased stakeholder trust in the non-profit entity due to the considerable accounting and disclosure provisions and other statutory requirements imposed by the current Act.
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