ZIMSEC O Level Commerce Notes: PBC: Incorporation Statement

  • Is prepared and drafted by a PBC.
  • Contains:
  • the name of the PBC ending with the words Private Business Corporation or PBC.
  • Postal address of the PBC.
  • Physical address of the registered office.
  • Full name and National Identity number of each member.
  • Each member’s capital contribution in cash, property or services to be rendered.
  • Full name and postal address of an accounting officer.
  • Date of the end of financial year.
  • Objects/purpose of the business.
  • Each member is entitled to a free copy.
  • Signed by all members and the accounting officer.
  • Original and copies are sent to the Registrar of Companies.
  • The Registrar upon registering the statement:
  • gives the PBC a number.
  • Endorses each copy to certify registration of the PBC.

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