A Notice of Transmission of Share (Companies Form 19) is filed to the Registrar, where the registered holder of a share(s) dies or becomes bankrupt. In the case of the death of a shareholder of a company the— survivor or survivors where the deceased was a joint holder; and personal representative of the deceased where …
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A company with unissued shares may allot the shares to any person who qualifies to be a shareholder. A return of allotment indicates the number of shares, the nominal amount of the shares comprised in the allotment, and details of each allottee and beneficial owners (if any). PREREQUISITE The company must have unissued shares Special …
A share indicates the pecuniary interest of the shareholders and their rights and liabilities. Shares in a Company are freely transferable. For the purpose of transfer of fully paid-up shares, a Notice of Transfer of Shares (Companies Form 3) must be completed. Companies Form 18 must be signed by both the transferor and transferee. …
The company secretary and board of directors are responsible for ensuring that the company maintains and updates information on the beneficial ownership of all the shares of the company and their associated voting rights. Further, they have a duty to take reasonable steps to ensure that the share and beneficial ownership register is properly kept …
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A company may, unless its articles provide otherwise, by special resolution, alter its share capital by increasing or reducing its share capital by new shares of such an amount as it thinks expedient. A reduction in share capital must be sanctioned by a court order. A Notice of Alteration in Capital (Form 11) and a …
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When a company resolves to make changes to its Directors or Secretary such as appointment, resignation, dismissal, or death, the company is required to file a Notice of change in directors/ secretary (Companies Form 10) to the Registrar within twenty-one days, specifying the date and nature of the change. The Notice of change in directors …
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Application for Change of Company Name The first step is that the applicant needs to apply for clearance of a proposed name. Once the proposed name is accepted, the Application for Change of Company Name (Companies Form 4) must be filed to PACRA together with a Special Resolution. Note that the original Certificate of Incorporation …
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Annual Return of for Business Name a business name must be filed online on the PACRA website or Government Service Website. PROCEDURE BN Form XIV in duplicate must be filed. The process is completed within 24 hours. PREREQUISITE Annual returns must be must lodge within three months after the end of each financial year. The …
What is an annual return? An Annual Return is a yearly statement that provides essential information about a company’s status. It gives a record of the nature of the company’s business, the location of its premises, its directors, secretary, and members, among others Why is it important to file an annual return? Annual Returns are …
An Insolvency Practitioner is a person who is qualified to be appointed as a Receiver, Receiver Manager or judgment receiver, a liquidator or business rescue administrator. The Registrar will determine whether a person qualifies to be accredited as an Insolvency Practitioner or not in accordance with section 9, 30, 141, and 142 of the Corporate …
