What is a widely held company in terms of the companies act, 61 of 1973 (as amended by the corporate laws amendment act, 24 of 2006)?

Section 1(h) of the Corporate Laws Amendment Act, 24 of 2006 (the “Act”) inserts a new subsection 6 into the Companies Act, 61 of 1973 (the “Companies Act”) and provides that a company is a widely held company if: its articles provide for an unrestricted transfer of its shares; it is permitted by its articles to offer shares to the [...]