n Transactions of the Centre for Business Law - Conclusion : chapter 9

Volume 2010, Issue 46
  • ISSN :



Public corporations have the purpose of existing for profit except in cases where they are specifically incorporated to be associations which do not operate for gain. Corporations can thus be described as voluntary and part-time associations, with no pretensions to being total communities. For an extended period, the issue of internal control has been the dominant factor driving corporations to pursue profits. Internal control determines which constituents of a corporation can exercise control over the affairs of the corporation.

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