INTRODUCTION In June, it is estimated that three hundred thousand (300,000) companies and businesses risk deletion from the company/business registers. A B&FT news report of 19th March 2021 quoted the Registrar-General, Mrs. Jemima M. Oware as issuing a final public notice – “kindly note that if at the expiration of three months from the date …
INTRODUCTION A company limited by shares construct produces an entity bestowed with legal personality, limited liability, transferability of shares, delegated management and investor ownership according to Reinier Kraakman. Globally, these distinct features backed by legislation and practice have become common features of such companies – and similarly, the Companies Act, 2019 (Act 992) recognises these …
INTRODUCTION A company is a creation of a statute implying that its form, operation, and continued existence are prescriptions of law. All aspects of company formation and management are also regulated by law. However, the primary company law regulation – the Companies Act, 2019 (Act 992) has not definitively provided for how and in whose …
INTRODUCTION With a public notice titled “All goods things must come to an end”, management announced that “Coco Lounge, Urban Grill and Carbon are closing their doors for the last time as of today, 28th March 2021” – bringing fine dining, world-class entertainment experience and established brands to a surprising end. Predictably, the impacts of …
COMMERCIAL LEASES AND RENT LIABILITIES – LESSONS FROM THE COVID-19 PANDEMIC Read More »
HOW TO TERMINATE THE PERPETUAL EXISTENCE FEATURE OF COMPANIES INTRODUCTION In an earlier article about long-term planning, I argued strongly for the adoption of strategies by company managers and owners that give real effect to the “perpetual existence feature” bestowed on companies by law and practice on incorporation. However, like our local “community groceries” or …
In my most recent article, I discussed the duties of directors of private companies under the Companies Act, 2019 (Act 992). However, directors are not the only officers or persons with duties imposed by Act 992 – mandatory or permissive. Act 992 also imposes duties on a company itself, members, officers, and other persons concerning …