Control in the limited liability company.

Abstract

The limited liability company may be said to be the commonest form of association in which business is carried on in Malta today. Various reasons may be ascribed to such a fact since the limited liability company has many advantages especially with regard to the liability of shareholders. On the other hand, however, the advantages in no way exclude the disadvantages. One of the fundamental characteristics of a juridical person is that, being an artificial person, it cannot express its own will but must act through physical persons who, as we shall see later on, are not to be considered as merely the 'lunga manus' of the company. This is so because they do not just carry out the wishes of the juridical person, but they decide themselves on what is the will of the company.