Incorporation checklist (Procedure to incorporate)- FS Flashcards
(8 cards)
What is the legal process called by which a business becomes a limited company?
The process is called incorporation, and it must be completed at Companies House in accordance with the Companies Act 2006 before a business can operate as a limited company.
What document must be submitted to Companies House to incorporate a company?
The incorporation form is called Form IN01, which includes the proposed company name and other key details such as the registered office and director information.
What must the name of a private limited company end with under the Companies Act 2006?
Under Section 59, the name of a private limited company must end with “Limited” or the abbreviation “Ltd.”
What restriction is placed on using a name that is the same or similar to an existing company name?
Under Section 66, a company name must not be the same as or deemed the same as a name already appearing in the Registrar’s Index of Company Names.
What are the exceptions to registering a company with the same name as an existing company?
An exception applies if the companies are part of the same corporate group and the use of the same name is expressly authorized in writing.
Under what condition can a company name be refused registration under Section 53 of the Companies Act 2006?
If the name would, in the opinion of the Secretary of State, constitute an offence or is offensive in nature, such as racist or profane terms.
What kind of company names require approval from the Secretary of State under Section 54?
Names that suggest a connection with His Majesty’s Government, a local authority, or public authority, or use sensitive words, require prior approval.
Are company applicants required to consider whether their company name is easy to spell?
No. There is no statutory requirement under the Companies Act 2006 for a company name to be easy to spell.
