Incorporation Practicalities

Incorporation Practicalities

1. 'Off the Shelf'

   • Premade companies
   • Quick

2. Documentation

   • Memorandum of association
     • s8
   • articles of association
     • s18
   • Registration appilcation
     • s9
     • Re Baby Moon
       • Registered in England
     • Rv Registrar of Companies
       • 'Miss Whiplash'
       • Not lawful intention
   • statement of compliance
     • s13

3. Number

   • Never changes
   • Identifies company

4. Consideration

   • Headed paper
     • s82
   • new bank account
   • issue of shares
   • Records

5. Pre-incorporation contracts

   • usually void
     • CAs51
   • Panorama v Lane
     • Cheap,Mean and Nasty

6. Promoters

   • Undisclosed investments
   • sell shares for their benefit
   • Erlanger v Sombrero Phosphate
     • penalised for secret profit
     • Now banks