Companies Act 2014
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PART 16 DESIGNATED ACTIVITY COMPANIES | ||
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CHAPTER 1 Preliminary and definitions | ||
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Definitions (Part 16) | ||
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963. In this Part— | ||
“constitution” shall be read in accordance with section 967 (1); | ||
“DAC limited by guarantee” means a DAC falling within paragraph (b) of the definition of “designated activity company” in this section; | ||
“DAC limited by shares” means a DAC falling within paragraph (a) of the definition of | ||
“designated activity company” in this section; | ||
“designated activity company” or “DAC” means a company that, as provided under section 965 (2), has either— | ||
(a) the status of a private company limited by shares registered under this Part (as distinct from a private company limited by shares registered under Part 2 ); or | ||
(b) the status of a private company limited by guarantee, and having a share capital. |