explain the formation of joint stock company
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Explanation:
Formation of a company to establish a 'new' company. A new company is set to be established when it is registered under the companies act. the formation of the company involves various legal formalities and activities.
STAGES IN THE COMPANY FORMATION
A. Promotion stage
B. Incorporation stage
C. Capital raising stage
D. Commencement of business stage
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Answer:
As a pre- requirement for formation of public joint stock companies, the promoters must subscribe at least 20 percent of the shares of the company and deposit not less than 35% of the amount under taken by them into an account opened in the name of the company in the process of formation
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