COMPANIES ACT - 1963 (ACT 179)

    Section - 5 - Prohibition of Partnerships Exceeding 20 Members

    No company, association or partnership consisting of more than twenty persons shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the company, association or partnership, or by the individual members thereof, unless it is registered as a company under this Code or is formed in pursuance of some other enactment for the time being in force.