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Business Law and Practice•Company Formation

A solicitor is advising a client who wants to incorporate a private limited company. The client has asked about the key characteristics of such a company. Which of the following statements correctly describes a private limited company?

The company must have at least two directorsThe company cannot offer its shares to the publicThe company must have a minimum share capital of £50,000The company must hold annual general meetingsThe company's articles must include model articles without modification

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