ZIMSEC O Level Commerce Notes:Certificate of incorporation,Statutory declaration and Certificate of Trading
Certificate of incorporation
- Is prepared by the Registrar of companies.
- Is sent to a company which applied for registration.
- the date and place where the company was registered.
- The name of the company and the address of the registered office.
- The signature of the Registrar of Companies.
- acts as a birth certificate which shows that the company was formed.
- I issued when the Registrar of companies is satisfied with the Memorandum and Articles of Association and the Statutory Declaration that they are in accordance with the Companies Act.
- Allows a company to engage in contracts.
- Allows a public limited company to raise capital by selling shares to members of the public.
- Enables a private limited company to commence trading but a public limited company requires a Certificate of Trading before starting trading operations.
- Is prepared by the company founders or their representatives.
- Is submitted to the Registrar of Companies.
- the name and address of the company.
- The address of the company’s registered office.
- The address of the registrar of companies.
- The names and signatures of the company’s founders or their representative.
- shows compliance with the provisions of the Companies Act.
- Is a signed statement by the company founders that they have acted in accordance with all the requirements of the Companies Act.
Certificate of Trading
- Is prepared and issued by the Registrar of Companies.
- Is issued:
- to public limited companies only
- after the certificate of incorporation has been issued and the minimum capital has been raised.
- the date and place of issue.
- The name of the company and the address of the company’s addresses.
- The name/signature and address of the Registrar of companies.
- issued when the Registrar of companies is satisfied and convinced that a Public Limited Company has raised the minimum amount of capital.
- Allows public limited companies to start trading.
- I used by a public limited company to apply for a listing on the Zimbabwe Stock Exchange.
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