Registered company which has limited liability (the shareholders cannot lose more than their original shareholdings), and a minimum of two shareholders and a maximum of fifty. Shareholders cannot transfer their shares without the consent of other members, and shares cannot be offered to the public. A private limited company is treated as a legal entity.
Green represents agriculture. Red recalls the struggle for independence. Black stands for the Zambian people. Orange symbolizes Zambia's mineral wealth, particularly the major deposits of copper. Effective date: 24 October 1964.