Formation of a company is a complex activity involving completion of legal formalities and procedures. To fully understand the process one can divide the formalities into three distinct stages, which are:
(i) Promotion
(ii) Incorporation
(iii) Subscription of capital.
The Memorandum of Association
Documents required to be submitted in formation of a company.
These are the Memorandum of association, Articles of Association, consent of proposed directors, agreement, statutory declaration and payment of fee. The Memorandum of Association is the most important document as it defines the objectives of the company.
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Answer:
Formation of a company is a complex activity involving completion of legal formalities and procedures. To fully understand the process one can divide the formalities into three distinct stages, which are:
(i) Promotion
(ii) Incorporation
(iii) Subscription of capital.
The Memorandum of Association
Documents required to be submitted in formation of a company.
These are the Memorandum of association, Articles of Association, consent of proposed directors, agreement, statutory declaration and payment of fee. The Memorandum of Association is the most important document as it defines the objectives of the company.
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