Day: February 18, 2021

. DORMANT COMPANY Article 346 and 347 give this definition, a company shall be a dormant company for any period during which no significant accounting transaction occurs in relation to the company. Where a company has: been dormant from the Read More …

. DEFINITION   A foreign company is a company incorporated outside of Rwanda and that has some of its activities in Rwanda by: establishing a share transfer office or a share registration office in Rwanda; administering, managing or dealing with property Read More …

RECONSTRUCTION Transformation, Merger and Cessation The transformation of a company is the operation whereby a company changes its legal form by decision of its partners. The transformation of the company does not result in the creation of a new corporate Read More …

THE DISAPPEARANCE OF LEGAL PERSONALITY When a commercial company acquires legal personality the personality does not persist for life i.e., it is not permanent, it will some day end. The disappearance of legal personality is the consequence of dissolution of Read More …

FORM AND CONTENT OF ACCOUNTS .The Financial  statements will include a balance sheet (Statement of Financial Position) as at the year end and a profit and loss statement (Income Statement)for the period ending the at the balance sheet date. The Read More …

ORGANS OF CONTROL The directors render accounts of their management, once each year, before the annual meeting of shareholders. They present the statement of accounts for the year under review. In order to control the authenticity of these figures it Read More …

THE COMPANY SECRETARY Any company, other than a small private company shall have one or more employees who shall be designated as Company Secretary Article 219 as modified by Law 14/2010 of 07/05/2010 The Company Secretary to replace the Employee Read More …

MANAGEMENT OF COMPANIES Although all the shareholders have equal rights in the company it is obvious that they cannot together participate in its management except where there are a few (two or three) shareholders. They are, therefore, obliged to entrust Read More …

CLASSIFICATION OF MEETINGS There are 3 types of meeting The Constituent meeting The Annual Meeting (historically known as the Annual General Meeting or AGM) Special Meeting of Shareholders (historically known as an Extra-ordinary General Meeting or EGM) CONSTITUENT ORDINARY MEETING Read More …

CLASSES OF SHARES Shares in a company may : be redeemable; confer preferential rights to distributions of share capital or income; confer special, limited, or conditional voting rights; 4.  not confer voting rights. .ISSUE AND ALLOTMENT Upon registration of the Read More …