Q.Define a Joint Stock Company and state the Act under which it is registered.

A Joint Stock Company is a creation of statute — an artificial legal person that exists only once it is validly registered.

A Joint Stock Company is an artificial person, created by registration under law, possessing a legal identity separate from its members, perpetual succession, a common seal (traditionally), and — in the most common type, a company limited by shares — limited liability for its members.

It is registered under the Companies Act, 2013, the central legislation governing companies throughout India. Section 2(20) of the Act defines a company simply as 'a company incorporated under this Act or under any previous company law.' The company comes into legal existence only when the Registrar of Companies (RoC) issues it a Certificate of Incorporation on successf …