5/8/2011 Basic company structure ·The owners of the company are the shareholders Shareholders (members). Directors ·Directors manage or oversee the management of the Managers company. Corporate Personality Doctrine Effect of registration:company exists as a body corporate (s 16(2)). The company is a legal entity different and distinct from its members(separate entity principle). Even if one shareholder has all shares. 8 45/8/2011 4 Basic company structure • The owners of the company are the shareholders (members). • Directors manage or oversee the management of the company. 7 Corporate Personality Doctrine • Effect of registration: company exists as a body corporate (s 16(2)). • The company is a legal entity different and distinct from its members (separate entity principle). • Even if one shareholder has all shares. 8