State FIVE items that are by law required in the Regulations of a Company registered under the Companies Act. (5 marks)

  • The name of the company
  • “Limited” as the last name for limited companies
  • The nature of authorized business to be carried on by the company or, for non-profit companies, the nature of the objects for which the company is established
  • A statement that the company has all the powers of a natural person with full capacity
  • The name of the first directors, with at least two foundation (or first) directors
  • A statement that the powers of the directors are limited by section 202
  • In the case of a limited liability company, the regulation must contain a statement that the liability of its members is limited
  • For companies with shares, the regulation must state the number of shares with which the company is to be registered, referred to as the authorized shares (i.e., the maximum number of shares that the company is capable of issuing)

[Any 5 points at 1 mark each for a total of 5 marks]