Q.Which of the following is generally NOT considered an essential feature of a company?
(A) Perpetual succession
(B) Limited liability of members in a company limited by shares
(C) The requirement to always use a common seal on every document
(D) Separate legal entity, distinct from its members

The Companies (Amendment) Act, 2015 made a common seal optional, so it is no longer a compulsory feature of every company.

Work through each option against the rule stated above; separate legal entity, perpetual succession, and limited liability remain genuine essential features, while the common seal is now optional.

Separate legal entity, perpetual succession, and limited liability (in a company limited by shares) are all long-standing, genuine essential features of a company. The common seal, however, is no longer compulsory — the Companies (Amendment) Act, 2015 made it optional, allowing an authorised signatory's signature to serve the same authenticating purpose instead.

Option-by-option analysis:

• (A) Incorrect (as a distractor) — perpetual succession IS a genuine essential feature.
• (B) Incorrect (as a distractor) — limited liability IS a genuine essential feature for a company limited by shares.
• (C) Correct — a common seal is no longer a mandatory requirement since the 2015 Amendment.
• (D) Incorrect (as a distractor) — separate legal entity IS the most fundamental essential feature.