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The concept of a dormant company has been launched. A dormant company is outlined in section 2 as one that’s not doing enterprise and does not have accounting transactions in a financial 12 months.” This is related in relation to time for completion of filing the annual return of a company. One of probably the most notable of the brand new laws is the Companies Act1 of 2012 (Hereinafter known as the new Act” or the Act”). However, no laws have as yet been made as required by Section 294 of the Act. Therefore, when it comes to section 12 of the Interpretation Act Cap three, for something in the Companies Act that prescribes the usage of … Read more
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In this instance of amalgamation, Company ‘A’ and Company ‘B’ will give up all their fairness shares (possession shares) to the newly formed Amalgamated Company ‘AB’. The assets and liabilities of Amalgamating Companies ‘A’ and ‘B’ shall be transferred to Company ‘AB’. The shareholders of the Company … Read more