MRL 2601 EXAMINATION PREPARATION

MRL 2601 EXAMINATION PREPARATION. Section A Question 1. 1. What documents must be filed with the Companies and Intellectual Property Commission to register a company? • The Notice of Incorporation and the Memorandum of Incorporation 2. How flexible is the Memorandum of Incorporation? • One may include any provision or change any provision in a Memorandum of Incorporation as long as it is consistent with the Companies Act 71 of 2008. 3. What is the legal status of the Memorandum of Incorporation and the rules developed by the board of directors? • They are binding on several persons in terms of section 15 of the Companies Act. The relationship created is contractual in nature. 4. List five matters that must be contained in a company’s Memorandum of Incorporation. The Memorandum of Incorporation contains the following information: • details of the incorporators • the number of directors and alternate directors • the share capital (maximum issued) • the content of the Memorandum of Incorporation • Unalterable provisions