FORMATION OF A COMPANY under companies act 2013 cs notes



Posted on 23-03-2016        By ADMIN



#FORMATION OF A COMPANY under companies act 2013 cs notes

In terms of Section 3(1), a company may be formed for any lawful purpose by— 

a. seven or more persons, where the company to be formed is to be a public company; 

b. two or more persons, where the company to be formed is to be a private company; or 

c. one person, where the company to be formed is to be One Person Company that is to say, a private company, by subscribing their names or his name to a memorandum and complying with the requirements of this Act in respect of registration. 

This is done by subscribing to their names or his name to a memorandum and complying with the requirements of this Act in respect of registration. 

(2) A company formed under sub-section (1) may be either— 

(a) a company limited by shares; or 

(b) a company limited by guarantee; or  

(c) an unlimited company. 




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