Query
When I click Save in the General Details screen, I receive the following error:
Legal elements are not valid for this type of company
Solution
The error occurs if the company name does not include the appropriate legal elements.
The company name usually includes certain legal elements which reflect the company type and company status. (for example, Pty Ltd, NL)
The Company Name entered in CAS 360 should reflect the company type and company status selected in the General Details screen.
The table below outlines the different company types and statuses and the legal element(s) that should be included in the company name.
| Company Type | Company Status | Legal element 1 | Legal element 2 |
|---|---|---|---|
| Small Proprietary / Large Proprietary | Limited by Shares / Limited by Shares and Guarantee |
PTY PTY. PROPRIETARY |
LTD LTD. LIMITED |
| Small Proprietary / Large Proprietary | Unlimited |
PTY PTY. PROPRIETARY |
|
| Public Company | Limited by Shares / Limited by Shares and Guarantee |
LTD LTD. LIMITED |
|
| Public Company* | Limited by Guarantee* |
LTD LTD. LIMITED |
|
| Public Company | No Liability |
NL N.L. NO LIABILITY |
|
| Public Company | Unlimited |
*For a Public company limited by Guarantee - if the sub class is 'Section 150 License', a legal element is not required.
Example
ABC is a 'Public company' 'limited by shares', the company name should be either ABC LTD, ABC LTD. or ABC LIMITED