CORPORATE LAW PRACTICE: THE BIRTH OF FORM CAC 1.1

One of the Function of the Corporate Affairs Commission under SECTION  7 CAMA precisely subsection A;

            ‘’to administer the Act including the regulation and supervision of the formation, incorporation, registration, management and winding up of the companies under the act’’

The commission in making the process of incorporation less tedious and even a little bit flexible, opening the window of preparing and presenting incorporation documents to First Directors or Subscribers. This duty was solely on Accredited Professionals prior to the birth of FORM CAC 1.1

THE INTRODUCTION

This form consolidated the Incorporation forms.

The form is divided into 5 SECTION

SECTION A: COMPANY ADDRESS

SECTION B: THE AUTHORIZED SHARE CAPITAL

SECTION C: PARTICULARS OF FIRST DIRECTORS & THEIR CONSENT TO ACT

SECTION D: PARTICULARS OF SECRETARY (INDIVIDUAL)

SECTION D1: PARTICULARS OF SECRETARY

SECTION E: STATUTORY DECLARATION OF COMPLIANCE WITH THE REQUIREMENTS OF CAMA BY A LEGAL PRACTITIONER

At The End we have PRESENTED FOR FILING BY:

THE RULES

1.      The SECTION E must be signed by a legal practitioner who need not be an Accredited Professional of CAC

2.      The Form could be Prepared and Filed by;

a)      Accredited professionals

b)      First Director

c)      Subscriber

3.      Directors must be individuals and not below the age of 18 years, so if you have in a Scenario that a company was appointed as Director, you cannot fill the name in this Form. Also, if one of the directors is an Infant you cannot fill his name in this form

4.      All spaces for signature must be duly signed

DOCUMENTS TO BE ATTACHED FOR INCORPORATION

1.      FORM CAC 1- AVAILABILITY CHECK AND RESERVATION OF NAME

2.       

      Duly Completed FORM CAC 1.1-APPLICATION FOR REGISTRATION OF COMPANY

3.     

          Duly Stamped Memorandum and Article of Association

4.    

         A copy of information page of International Passport, Driver’s License or National Identity Card of every director, subscriber and Secretary

If a Minor subscribes to the shares of the company and there are at least 2 other qualified people then you attach;

5.      A copy of Birth Certificate of every minor issued by the National Population Commission OR Data page of International Passport must be attached

Where a Nigeria company is a Subscriber or he nominates a Director to the board (you remember, a corporate body cannot be a director but they are allowed to nominate) then you attach

6.      A duly signed and sealed resolution of the company authorizing the subscription  and authorizing the Nomination also

Where it a foreign corporate body registered outside Nigeria then you attach;

6 (i) Board Resolution authorizing the subscription

6(ii)A copy of Certificate of registration

Foreigners that are directors or subscribers using Nigeria address must attach;

7.      Copy of Residence Permit

```                                See generally REGULATION 23 COMPANIES REGULATIONS 2012

WE WELCOME THE  INNOVATION OF CAC ………

WEHDONE SIR!!!!