Conclusion other steps required under companies and partnerships legislation to enable the entity to commence operating)- FS Flashcards
(10 cards)
What documents must be submitted to Companies House to incorporate a company?
The applicant must submit Form IN01, the Memorandum of Association, the Articles of Association, and the applicable fee, either online or by post.
What key elements make up a company’s constitution?
The company’s constitution consists of the Articles of Association, company resolutions, the Certificate of Incorporation, and the Statement of Capital
What is the function of the Articles of Association in a company’s structure?
The Articles of Association are the company’s internal rulebook, outlining procedures for governance, decision-making, and share-related matters.
What must be included on Form IN01 when incorporating a company?
Form IN01 must list the company’s name, subscribing shareholders, first directors, registered office address, and details of a company secretary (if appointed), as well as any persons with significant control.
What restrictions apply to the choice of a company name?
The name must not exceed 160 characters, must not infringe on existing trademarks or risk passing off, and may require Secretary of State approval in certain cases.
What document confirms that a company has been legally incorporated?
The Certificate of Incorporation issued by the registrar confirms that the company is legally incorporated under the Companies Act.
What is a shelf company, and why might it be used?
A shelf company is a pre-incorporated company, typically set up by a solicitor’s firm, allowing clients to bypass the full incorporation process and instead pass resolutions to appoint new directors and shareholders.
What post-incorporation matters are typically addressed at the first board meeting?
Directors decide on matters including insurance, tax registration, banking arrangements, accounting reference date, service contracts, chairperson appointment, and potentially company name change.
In what circumstances must a company change its name after incorporation?
A company may change its name post-incorporation if a shelf company was used or if the original name no longer reflects its business needs, requiring a board decision and relevant filings.
Can a company be incorporated as either a private or public limited company?
Yes, a company may be incorporated directly as a private or public limited company, or it can be re-registered later from private to public, provided statutory requirements are met.
