Subscribers of a company, particularly of a startup are ignorant tribe as far as company law is concerned. They need proper handholding. A subscriber to the memorandum of association and articles of association of a company is a neglected person though otherwise celebrated as member shareholder of a company.
Foundations of all great buildings are usually a neglected construction but ensuring long life of the building. Subscription Sheet is one of the neglected areas of our discussions in corporate laws. With the introduction of eMemorandum of Association (SPICe MoA) and eArticles of Association (SPICe AoA), we usually consider it obsolete. No, it is actually not.
UPDATE: on 30th August 2013: Companies Bill 2012 became the Companies Act, 2013 (Act 18 of 2013).
Section 7, 8 of Companies
Bill 2012 Act, 2013
In my last blog post “Formation of Company”, I discussed the formation of company and its foundation documents; Memorandum, Articles and proposed/changed Name. In This post we will discuss, Incorporation of Company including incorporation of non- profit company.
INCORPORATION OF COMPANY (SECTION 7):
All document related to incorporation shall be filed be filed before the registrar, in whose jurisdiction registered office of a company is proposed to be situated. A Registrar may have jurisdiction over several states or only a part of a state. Following documents are to be submitted:
Posted in Chapter II - CA2013, Companies Act 2013, Governance and Responsibility
Tagged Articles, Certificate of Incorporation, CIN, Companies Bill 2012, CorpLaw, Corporate Identity Number, Corporate Law, Effect of Registration, Incorporation, Incorporation & Registration, Incorporation of Company, Incorporation of Non – profit, India, Memorandum, Registered Office, Subscriber