COMPANY REGISTRATION A company is an artificial person which arises when a group of persons form a corporate body which can acquire personality separate from that of its members with some legal powers of a natural person. For example, it can sue or be sued, it can own property and make contracts even with its own members in its own name. The following companies can be registered with the Registrar of companies; •A company Limited by shares: private company and public company•Company Limited by Guarantee •Close Company •An External Company •A Foreign Company •Others BUSINESS NAMES REGISTRATION The Registrar of Companies administers Business Names Act to regulate commerce. Business Name means the name, title, description or style under which any business is carried on whether in partnership or otherwise. A business name is neither a natural person nor it is a legal persona; rather, it is a trading style. Example, Barloworld is company trading as Kalahari Ford, (the business name).A business name is placed visibly at the entrance of the business operation plot. The Registrar of Business Names keeps a register in which all registered business names are entered to ensure that no business name shall be registered by a name, title, description or style which is identical or is similar to that by which a business name is already registered under this Act, under the Companies Act or Industrial Property Act. WHO MAY REGISTER A BUSINESS NAME? Both a body cooperate and a natural person may apply for the registration of a business name. Registration process goes through two main stages for The Register to issue a certificate of registration:- •Application for name reservation - Here the customer propose three (3) names in order of preference and submit for name reservation. The fee payable is P3.00. Turn around time for this is 3 days. •Application for name registration - After being given a business name, the customer will apply for registration of business name by filling in an RBN/2 form in duplicate. The application fee for this is P20.00. Turn around time is 10 days. Within these 10 days, registrar will issue a certificate of registration for the business name. •Notice of Change - Notice of change in the particulars is received for action and certificate is issued according to the changes. •Notice of Cessation of Business - Notice is given that the business registered under the Registration of Business Name Act and carried on under the business name in use has ceased to operate. The Registrar will enter into the register remarks to indicate that the business has ceased operate.
Posted on: Mon, 23 Jun 2014 08:34:35 +0000
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