The Ca provides for restrictions on the sale, lease or sale of all or all of the company`s business or assets, without the consent of the shareholders, through an ordinary liquidation. A copy of an official list of shareholders and/or directors; There was animosity between the shareholders of the first complainant. The second complainant was a majority shareholder and the respondents, who are mother and son, were minority shareholders. The respondent accused the second complainant, as the majority shareholder, of conducting the company`s business in a manner depressing to the respondent. They filed an application to liquidate the company pursuant to paragraphs 271 (1) c), 272(1) (f) and 239 (2) (3) of the Companies Act, Chapter 388 of Zambia`s laws. The reason the petition was filed was that it was fair and equitable for the business to be dissolved, as the relationship between the second complainant and the respondent was irreparably broken and led to a stalemate. The respondent allegedly invoked numerous acts of repression by the second complainant. The greatest relief that respondents asked for in their petition was the treatment of the company. Alternatively, the respondents sought these other orders under Section 239 (3) of the Corporations Act, z.B. for the acquisition of the respondent`s shares or the regulation of the company`s affairs. Are there any assets or liabilities that cannot be excluded from the transaction by agreement between the parties, including the acquisition or sale of a business? Are there consents or communications generally required to transfer assets or liabilities related to a business transfer? Law 10 of 2017 defines the legal framework governing the sale of shares of a limited company.

The certification body defines a private company as a company with no more than 50 members.