A joint stock company is formed through a complex process consisting of several stages and involving many legal formalities. The various stages involved in the formation of a company are as follows:
3. Capital Subscription
4. Commencement of business
Incorporation is the process of registration of a company with the Registrar of Companies. In order to obtain certificate of registration, it is necessary to submit an application along with the following documents with the Registrar of Companies.
a. The Memoradum of Association.
b. The Articles of Association.
c. A copy of the letter from the Registrar in which the name of the company is approved.
d. A list of persons who have agreed to be directors with their full names, addresses and occupations.
e. A written consent of directors to act as such.
f. Notice of the registered office of the company.
g. Statutory declarations stating that all the legal formalities for incorporation have been duly compiled with.
If the Registrar of Companies is satisfied with the compliance of above documents and procedure, he will enter the name of the company in his Register and will issue a “Certificate of Incorporation”.