Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
781 views
in Business Studies by (49.8k points)

Explain the formation process of limited companies.

1 Answer

0 votes
by (56.1k points)
selected by
 
Best answer

Paper process Under section 9 of the Companies Act 2006, those forming a company must send the following documents, together with the registration fee, to the Registrar of Companies. Most incorporations submitted by paper take around 5 working days to be accepted. For detailed information see the Companies House guide.

Articles of association The articles of association (often referred to as just ‘articles’) is the document which sets out the rules for the running of the company’s internal affairs. The company’s articles delivered to the Registrar must be signed by each subscriber in front of a witness who must attest the signature. In the event that articles are not registered for the new company, model (default) articles will be registered. These model articles can be chosen to be adopted in the IN01 form. This new procedure was introduced by the Companies Act 2006, Section 20.

This contains the intended situation of the Registered Office, (this will be either in England and Wales, Northern Ireland, Scotland or Wales), the details of the consenting Secretary and Director(s), details of the subscribers and, in the case of a company limited by shares, details of the share capital. The form also includes the Statement of Compliance that the requirements of the Companies Act have been complied with. Memorandum of association

This contains the names and signatures of the subscribers that wish to form the company and, in the case of a company limited by shares, a commitment by the subscribers to take at least one share each. A draft template is available on the Companies House website. It sets out constitution of a company and the foundation on which the structure of a company is based. In other words, memorandum of association is considered the charter or constitution of the company because it lays down the objectives of the company precisely and clearly, defines scope of its relation with the investor and outside world.Electronic process The electronic process can be accessed using compatible software that works with the Companies House eFiling service and an account with Companies House. Company formation agents have direct finks into Companies House, to look up the company name, and submit the company. Different agents have differences in their processes caused by their website and software implementation. Companies House have a fist of company formation agents that have passed integration testing.

Electronic process The electronic process can be accessed using compatible software that works with the Companies House eFiling service and an account with Companies House. Company formation agents have direct finks into Companies House, to look up the company name, and submit the company. Different agents have differences in their processes caused by their website and software implementation. Companies House have a fist of company formation agents that have passed integration testing.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...