Maintaining Company

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

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

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

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 FEES BN Form XIV – K111.20 per year FORMS BN Form XIV

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

Redistribution of shares comes in different forms Transfer of shares 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 shares, a prescribed Form must be completed. If an instrument of transfer of fully paid shares in a Company

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

I have a Business name what do I do in this case? For a business name, an applicant will be required to fill in form 3 and have it duly signed by the owner(s) of the business. Applicants must take into account that Before applying for this service a business must ensure What else should