Question

As a promoter, state five important documents to be prepared for the incorporation of a joint stock company.

Answer 1

Answer:

Explanation

1.memorandum of association

2. Articles of association

3. Statement of authorised capital

4. Written consent of directors to act as directors

5. A legal declaration that all formalities regarding incorporation are fulfilled.

Answer 2

As a promoter, the five important documents to be prepared for the incorporation of a joint-stock company are:

• Memorandum of association: it is a legal document that represents the charter of the business
• Articles of association / Statement in lieu of the prospectus: It is a document that defines the business's purpose and regulations.
• Written consent of the proposed directors: It is a letter from the proposed director that expresses their will to accept the position.
• A statutory declaration affirming that all legal requirements for registration have been complied with
• A copy of the registrar’s letter approving the name of the company.

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