The procedures to be followed by persons who intend to form a registered company will depend on whether the proposed company is to be a public company or a private company.
The initial step that must be taken by promoters who are desirous of forming a public company is the preparation of a document called the memorandum of association towhich at least seven of them will subscribe their names as prescribed by s.4 of the Act. The memorandum must contain a declaration by the promoters that they are desirous of being formed into a company pursuant thereto and must state:
(a) the name of the company, with "limited" as the last word of the name of the company in the case of a company limited by shares or by guarantee; and
(b) like the registered office of the company is to be situate in Kenya; and
(c) there the objects of the company; and
(d) next the amount of capital with that the company is to be registered and the division of the capital into shares of a fixed amount.