Submitted by: Submitted by SiyabongaZondi
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Words: 105312
Pages: 422
Category: Other Topics
Date Submitted: 05/13/2016 08:35 AM
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Modified application with respect to state-owned companies
Modified application with respect to non-profit companies
CHAPTER 2
FORMATION, ADMINISTRATION AND DISSOLUTION OF COMPANIES
Part A
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Reservation and registration of company names
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Criteria for names of companies
Reservation of name for later use
Part B
Incorporation and legal status of companies
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Right to incorporate company
Registration of company
Memorandum of Incorporation, shareholder agreements and rules of
company
Amending Memorandum of Incorporation
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Alterations, translations and consolidations of Memorandum of Incorporation
Authenticity of versions of Memorandum of Incorporation
Legal status of companies
Validity of company actions
Pre-incorporation contracts
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Reckless trading prohibited
Part C
Transparency, accountability and integrity of companies
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External companies and registered office
Form and standards for company records
Location of company records
Access to company records
Financial year of company
Accounting records
Financial statements
Annual financial statements
Access to financial statements or related information
Use of company name and registration number
Annual return
Additional accountability requirements for certain companies
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Part D
Capitalisation of profit companies
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Legal nature of company shares and requirement to have shareholders
Authorisation for shares
Preferences, rights, limitations and other share terms
Issuing shares
Pre-emptive right to be offered and to subscribe shares
Consideration for shares
Shareholder approval for issuing shares in certain cases
Options for subscription of securities
Securities other than shares
Financial assistance for subscription of securities
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