LEGAL REQUIREMENTS OF INCORPORATION OF A COMPANY

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FILING OF DOCUMENTS

The following documents are required to be FILED with the registrar of companies for the incorporation of a joint stock company :

1.MEMORANDUM OF ASSOCIATION

2.ARTICLES OF ASSOCIATION

3.LIST OF DIRECTORS

4.WRITTEN CONSENT OF DIRECTORS

5. DECLARATION REGARDING QUALIFICATION SHARES

6.NOTICE OF REGISTERED OFFICE

7.STATUTORY DECLARATION

 

1.MEMORANDUM OF ASSOCIATION: It is the most important document to be filed with the registrar itis also called charter of the company. It contains the name of the company, place of the regisrtered office, objects of the company , the liability of members, the amount of its authorised capital  etc. It must be signed by atleast seven persons in the case of a public limited company and two people in the case of a private limited company . The momerandum  must be printed , divided into paragraphs and numbered consecutively. It is the foundation on which the superstructure of the company is built . It defines the activites and powers of the company.

2.ARTICLES OF ASSOCIATION : It is another important document . It contains rules and regulations for the internal management of the company. The private limited company, the preparation of articles is optional . A public limited company which does not prepare and files articles that can adopt the articles stated in table A of the companies act. The articles prescribe the relationship among the shareholders themselves and relation between the shareholders and the company .

3.LIST OF DIRECTORS  : This list contains the name , addresses  and occupations of persons who have agreed to act as the first directors of the company. There must be atleast three directors in case of public company and two directors in the case of a private company .

4.WRITTEN CONSENT OF DIRECTORS  : The written  consent of the persons who have agreed to act as directors of the company has to be filed .

5.DECLARATION REGARDING QUALIFICATION SHARES :  The written consent of the persons who have agreed to  purchase and pay fotrthe qualification shares alongwith other shareholders.

6.NOTICE OF REGISTERED OFFICE: At the time of incorporation, the address of the registered office of the company, stating the state in which it is ging to be located is to be filed. Due to any responses, if it was not furnished , it must be filed within 30  days from the date of in corporation.

7.STATUTORY DECLARATION: A statutory declaration by an advocate or secretary or director or chartered accoutant or any other person who has taken part in  the formation of the company, stating that all provisions of the companies act with regard to the registration has been compiled with.

THEN AFTER ALL THESE DOCUMENTS ARE VERIFIED BY THE REGISTRAR NOW,

The certificate of incorporation is issued when all the formalities concerned with the regisration of a company have been fulfilled. The moment this certificate is issued , the company acquires a separate legal status .

The certificate of incorporation bears the serial number , date of incorporation and the signature and the seal of the registrar of companies.It is the conclusive proof all the legal formalites required for the incorporation of a company have been duly fulfilled.