ABSTRACT
This chapter examines the basic legal principles concerning companies. Company law of the South Pacific region is similar in most basic respects to that of other common law countries. The legislation, which is the primary source of company law and procedure for the region, is largely introduced law, modelled on that of the United Kingdom. The Companies legislation provides for the following basic types of company: a company limited by shares; a guarantee company; and an unlimited company. A company within the South Pacific is regarded as a subsidiary of a holding company if the latter exercises a substantial degree of control over the former. There are basically three types of company that can be found in any of the jurisdictions. These are companies that are limited by shares (public and private), unlimited companies and guarantee companies. A company limited by shares can be further subdivided into two types: namely, a public limited company and a private limited company.
