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 …
An Application for registration of amalgamation (Companies Form 37) is filed to the Registrar under section 289 of the Companies Act No. 10 of 2017. Two or more companies may amalgamate and continue as one of the companies in the amalgamation or as an entity incorporated under the Act. A record of merged or amalgamated …
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A company is a voluntary business association of two or more persons formed for the purpose of making a profit. A company must be incorporated for a lawful purpose. By law, a company is a legal entity that is separate from its members (owners). It continues to exist even after the demise or changes of …
A Business Name is an association of one or more individuals or corporations that would like to form a partnership with one another for the purpose of carrying on business for profit. A Business Name or Commercial name identifies an enterprise. What do I need for Registration? A completed and signed Application for Registration of …
A liquidator is a person appointed to wind up the affairs of a company and is responsible for managing the process of converting the property of a company into cash in order to settle the company’s debt and other liabilities, among other functions stated in the Corporate Insolvency Act. The company shall, within fourteen days …
