for

the debts of the company is limited to the amount unpaid on their shares.

  by

the Companies Act 2006 and is a relatively simple process. The entrepreneur is

required to provide the Registrar of Companies with the constitution of the

company (this contains the internal rules of the company called the articles of

association and any objects clause limiting the power the company may have), a

memorandum of association stating that the subscribers intend to 

  a

company and become members and an application for registration containing the

company name, its share capital, the address of its registered office, whether

it's a private or public company, that the liability of its members is limited,

a statement of the company's directors' names and addresses and a statement of

compliance with the CA 2006.

 to

the public which state that subscribers wish to form the company and agree to

become members taking at least one share each. If the application to the

Registrar is successful the subscribers become the first members of the company

and the proposed directors become its first directors. Under the previous

Companies Act 1985 the total amount of share capital that could be issued to

investors had to be stated in the memorandum. In the CA 2006 the provisions

have been streamlined and now only require a statement of the total number and

nominal value of shares to be taken on formation by the subscribers to the

memorandum of association.

 .

If all the documentation is in order then the Registrar will issue a

certificate of incorporation and the company will then come into existence.

Unless the company founders provide their own set of articles the model articles will be adopted as a

default. 

  (SUPERVISE) board is a body of which nonmanagerial workers are

members, having powers over some aspects of management decision-making.

The shareholders

cannot sue or be sued