What is a general commercial company?
This is a term frequently used in the objects of companies registered before 1.10.2009. From that date, companies need not have any statement of objects and then the objects will be unrestricted. CA 1985, sec3A provides that where the company's memorandum states that the object of the company is to carry on business as a general commercial company-
- the object of the company is to carry on any trade or business whatsoever, and
- the company has power to do all such things as are incidental or conducive to the carrying on of any trade or business by it.
This will still apply to companies registered before 1.10.2009 that have not changed their articles since then. The clause was inserted into the 1985 Act by CA 1989, sec11(1). See further 'What are a company's objects?
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