4/9/2015

IncorporatingaCompany|LawpathSolicitors

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IncorporatingaCompany
PostedonJanuary25,2013bysolicitor1

InterestedinincorporatingalimitedliabilitycompanyinNigeria?Theunderlistedformsarerequiredtobe
completedbytheinitialsubscribers/firstdirectorsofthecompanyandfiledattheCorporateAffairsCommission
(theCAC)bytheSolicitorengagedtoprocesstheincorporation.
1. MemorandumandArticlesofAssociation(Memart)
2. ParticularsandConsentofFirstDirectorsFormCAC7
3. StatementofShareCapitalandReturnofAllotmentFormCAC2
4. NoticeofSituation/ChangeofRegisteredAddressFormCAC3
5. ParticularsofCompanySecretaryFormCAC2.1
6. DeclarationofCompliancewiththeRequirementsofCAMAFormCAC4.
Memorandum&ArticlesofAssociation(Memart)
TheMemartistypicallyconsideredtheconstitutionaldocumentsofacompany.Section41oftheCompaniesand
AlliedMattersAct,CapC20,LFN2004(CAMA),statesthusthememorandumandarticles,whenregistered,
shallhavetheeffectofacontractundersealbetweenthecompanyanditsmembersandofficersandbetweenthe
membersandofficersthemselves,wherebytheyagreetoobserveandperformtheprovisionsofthememorandum
andarticles,asalteredfromtimetotimeinsofarastheyrelatetothecompany,members,orofficersassuch.
However,thoughcommonlyreferredtoastheMemart,theMemorandumofAssociationandtheArticlesof
Associationaretwoseparatedocumentsperformingdifferentfunctions.
MemorandumofAssociation
TheMemorandumofAssociationsetsoutthestructureofthecompany,themattersprovidedforinS.27ofCAMA,
andisrequiredtobesubscribedtobyaminimumoftwo(2)persons,witheachsubscribersigningthe
memoranduminthepresenceofatleastonewitness,whoshallattestthesignature.
ArticlesofAssociation
Thisregulatestheinternalaffairsofthecompany,totheextentthattheyarenotprovidedforinCAMA.
TheprocessofdraftingtheArticlesofAssociationhasbecomesimplifiedbytheprovisionofspecimenarticlesin
TableAofCAMAandalsoS.34ofsame,whichrequiresthatthearticlesmustcomplytoitastoformandcontent.
ParticularsofDirectorsFormCAC7
Thisisrequiredtobecompletedbythefirstdirectorsofthecompany,i.ethepersonswhoconsenttobethe
directorsofthecompany,atthetimeofincorporation.
ParticularsofCompanySecretaryFormCAC2.1

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IncorporatingaCompany|LawpathSolicitors

Thedirectorsofthecompany,uponappointingacompanysecretaryofsuchqualificationasprovidedbyS.295of
CAMA,shallsubmitadulycompletedformCAC2.1,statingthedetailsofthecompanysecretary,appointed.
StatementofAuthorisedShareCapitalFormCAC2
Twocopiesofthisfromisrequiredtobecompletedandsignedbythefirstdirectorsofthecompanystatingthe
authorisedsharecapitalofthecompany.Theformwouldstate,forexample,thatthesharecapitalofthecompany
isN1,000,000.00dividedinto1,000,000sharesofN1.00each.
NoticeofAddressofRegisteredOfficeFormCAC3
Thisformsimplystatesthephysicaladdress(notapostaladdressnorprivatemailbagaddress)oftheregistered
officeofthecompany.Iftheheadofficeofthecompanyisdifferentfromtheregisteredoffice,theadressofthe
headofficemustalsobeprovided.
DeclarationofCompliancewiththeRequirementsofCAMAFormCAC4
Thisistobecompletedbythesolicitorengagedintheformationofthecompanyanddeposedtointhepresenceof
acommissionerforoaths.
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