Part IIncorporation and Registration

1 Mode of Forming Company

(1)Any seven or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association and registering the same, form an incorporated company with limited liability.

(2)There shall be paid to the Registrar of Companies an incorporation fee of £5 upon registration of the memorandum.

2 Corporate Personality

From the date of incorporation mentioned in the certificate of incorporation, the company shall be a body corporate capable forthwith of exercising all the functions of an incorporated company and having perpetual succession and a common seal.

Part IICapital and Directors

3 Register of Members

Every company shall keep a register of its members, and any director who fails to maintain the register shall be liable to a default fine of £2 per day.

4 Annual Return

Every company having a share capital shall once at least in every year make an annual return to the Registrar, accompanied by a balance sheet.

Part IIIGeneral

5 Citation

This Act may be cited as the Companies and Corporate Bodies Act.