It basically says that the limited amount of shareholders, maybe 50 people or less, get to determine how they would want to run the company. They are exempt from many of the company law clauses that restricts how it should be run.
It basically says that the limited amount of shareholders, maybe 50 people or less, get to determine how they would want to run the company. They are exempt from many of the company law clauses that restricts how it should be run.