Formation of charitable companies: licence permits omission of limited designation subject to profit use and no dividend restrictions. Companies formed for promotion of public oriented objects and that apply profits to those objects and prohibit dividends may be licensed by the Central Government to omit the designation Limited or Private Limited; they enjoy the privileges and obligations of limited companies, are subject to restrictions on altering constitutional documents without governmental approval, require prescribed steps for conversion, and face licence revocation, compulsory name/status change, amalgamation or winding up and prescribed penalties for noncompliance.