Change of name - name clause, Business Law and Ethics

Change of Name:

A company's name may be changed voluntarily or compulsorily

(a)   Voluntary Change

A company's name may be changed voluntarily:

i. Under s.2.1 if a special resolution is passed by the company for that purpose after obtaining the written approval of the registrar. The registrar's approval is required so as to ensure that he does not later on reject the proposed name on the ground that it is undesirable.

ii. Under section 20(2) if the name was inadvertently registered by a name which, in the opinion of the registrar, is too like the name by which a company in existence is previously registered. No particular type of resolution is prescribed by the section and the change may therefore be made by ordinary resolution.

Although the section does not make it mandatory for the company to change its name it is advisable for the company to take immediate steps to effect the change as soon as it becomes aware of the situation. Any delay entails the risk of a passing-off action being instituted against the company.

iii.  Under section 21(2) if the Minister, by licence, authorises a company to make a change in its name. The change has to be made by special resolution so as to omit the word "limited" from the company's name.

Posted Date: 1/12/2013 2:23:55 AM | Location : United States







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