The object of this Bill is to—

(a) promote the development of the economy by encouraging entrepreneurship, enterprise efficiency, flexibility and simplicity in the formation and maintenance of companies;

(b) provide for the incorporation, categorisation, management and administration of different types of companies;

(c) provide the procedure for the approval of company names, change of name and conversion of companies;

(d) provide for shareholders’ rights and obligations, the conduct of meetings and the passing of resolutions by shareholders;