Registration procedures, Business Law and Ethics

Registration Procedures:

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.

Public 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.

Posted Date: 1/12/2013 1:56:55 AM | Location : United States

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