n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - Par-value Shares or No-par-value Shares - Is that the Question? : analyses

Volume 19, Issue 4
  • ISSN : 1015-0099
  • E-ISSN: 1996-2185



In this analysis it will be argued that although certain consequences are perhaps more commonly associated with either par-value or no-par-value shares, the regulation of each of these types of share can differ substantially between jurisdictions. The ultimate choice between par-value and no-parvalue shares thus becomes almost inconsequential. A comparison of par-value and no-par-value shares as they are currently regulated in the Companies Act, is nevertheless a useful way of identifying certain key considerations that should inform the design of the preferred system.

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