Discuss the statutory limitations on the following acts of a close corporation and also refer to the legal effect of a non-compliance with these limitations. Compare this statutory arrangement with the rules applicable to companies registered under the Companies Act. (a) (b) (c) (d) The acquisition of a member's interest by the corporation. (6) Financial assistance by a close corporation for the purpose of an acquisition of a member's interest in the corporation. (6) Loans by a corporation to members. (6) Payments by a corporation to any member by reason only of his or her membership. (13) Loans by a company to a close corporation if the close corporation holds more than one-half of the equity share capital of the company. (5) [36] (e) Discuss the statutory limitations on the following acts of a close corporation and also refer to the legal effect of a non-compliance with these limitations. Compare this statutory arrangement with the rules applicable to companies registered under the Companies Act. (a) (b) (c) (d) The acquisition of a member's interest by the corporation. (6) Financial assistance by a close corporation for the purpose of an acquisition of a member's interest in the corporation. (6) Loans by a corporation to members. (6) Payments by a corporation to any member by reason only of his or her membership. (13) Loans by a company to a close corporation if the close corporation holds more than one-half of the equity share capital of the company. (5) [36] (e)