Archive | Technical

A ring-fenced company is a company whose MOI contains special conditions or prohibitions that prohibit the amendment of any particular provision of the MOI. Section 15(2)(b) and (c) allows a company’s powers to be restricted by informing the public that a company’s powers are either limited or restricted where a company’s name is followed by [...]

It is important to note the difference between a Regulated and a Non-Regulated Company, in terms of the Companies Act, since it impacts on the Memorandum of Incorporation. In terms of Section 117 of the Act, a Regulated Company means a company to which sections 117-127, Chapter 5 of the Act and the Takeover Regulations [...]

A ‘domesticated company’ means a foreign company whose registration has been transferred to the Republic ito section 13(5)-(11) of the Act: A foreign company may apply the prescribed manner and form, accompanied by the prescribed application fee, to transfer its registration to the Republic from the foreign jurisdiction in which it is registered, and thereafter [...]

Item 6 of Schedule 5 read with regulation 31 of the Companies Act of 2008, deal with the conversion of ordinary par value shares to no par value shares. There will be no disposal on conversion for the shareholders as contemplated in paragraph 11(1)(a) of the Eighth Schedule to the Income Tax Act, No 58 [...]