COMPANIES
CHAPTER 46:03COMPANIES ARRANGEMENT OF SECTIONS PART IPRELIMINARY 1. Short title 2. Interpretation PART IITHE OFFICE OF THE REGISTRAR OF COMPANIES 3. Establishment of the office of the Registrar of Companies 4. Functions of the Registrar 5. Fees payable to the Registrar 6. Registration of documents 7. Power to require delivery by electronic means PART IIIREGISTERS 8. The Registers 9. Allocation of unique identifiers 10. Preservation of original documents and reconstitution of lost documents 11. Records relating to dissolved companies 12. Searches and evidence of a register 13. Material not available for public search 14. Form of application for search 15. Certification of copies as accurate 16. Registrar’s powers of inspection 17. Power to require compliance 18. Power to extend time for doing any required act 19. Removal of material from the register 20. Rectification of the register 21. Application to foreign companies 22. Arrangements with other agencies PART IVCORE COMPANY REQUIREMENTS Division ITypes of Companies 23. Private limited liability company 24. Public limited liability company 25. Company limited by guarantee 26. State owned companies Division IICompany Formation 27. Forming a company 28. Requirements for incorporation 29. Incorporation 30. Statement of capital 31. Certificate of incorporation 32. Legal effects of incorporation Division IIIThe Constitution of the Company 33. A company’s constitution and its effect 34. Power to adopt model constitution and default application of model constitution 35. Adoption, alteration and revocation of constitution 36. Constitutional documents to be provided to members 37. Right to participate in profits otherwise than as member is void Division IVCapacity, Powers and Validity of Acts 38. A company’s capacity and power of directors to bind the company 39. Validity of company actions 40. Dealings between a company and any other person 41. No constructive notice 42. Common seal 43. Official seal required for share certificates of public companies 44. Ratification of pre-incorporation contracts Division VCompany Names and Registered Office 45. Application for reservation of a name 46. Availability of name 47. Prohibited names and power of the Registrar to refuse a company name 48. Public limited company’s requirement to use plc 49. Private limited company’s requirement to use limited 50. Company limited by guarantee requirement to use limited 51. Provision of misleading information as to activities 52. Change of name 53. Direction to change name 54. Requirement to use company name 55. Requirement for company to have a current registered office in Malawi Division VIAlteration of Company Status by Re-Registration 56. Re-registration of public company as private company 57. Objection to resolution for a public company to be re-registered as a private company 58. Certificate of re-registration from a public to a private company 59. Re-registration of private company as a public company 60. Consideration for shares recently allotted to be valued 61. Certificate of re-registration from a private to a public company 62. Single member company changing status Division VIICore Requirements for Private Companies 63. Number of shareholders 64. Private company not permitted to make a public offer of securities 65. Exemption of a private company from the requirement to keep a register of shareholders 66. Exemption of a private company from the requirement to hold shareholders’ meetings 67. Exemption of a private company from the requirement to have a company seal 68. Exemption of a private company from the requirement to have a company secretary 69. Permitted transactions 70. Directors of private companies to comply with applicable corporate governance standards PART VSHAREHOLDERS AND THEIR RIGHTS 71. Meaning of “shareholder” 72. Liability of shareholders 73. Code of conduct for shareholders of private companies 74. Code of conduct for shareholders of all public companies 75. Subsidiary may not hold shares in holding company 76. Prohibition in section 75 not to apply where a subsidiary is acting as personal representative or trustee 77. Residual interest under pension scheme or employees’ share scheme to be disregarded for purposes of section 75 78. Employer’s rights of recovery under pension scheme or employees’ share scheme to be disregarded for purposes of section 75 79. Subsidiary acting as authorized intermediary in securities 80. Application of provisions to companies limited by guarantee 81. Application of this Part to nominees acting on behalf of a subsidiary PART VITHE SHARES OF A COMPANY Division ILegal Nature, Types of Shares and Related Particulars 82. Legal nature of shares 83. Classification of shares 84. Preferences, rights and limitations in respect of shares 85. Statement of rights to be given to shareholders 86. Transferability of shares 87. No par or nominal value shares 88. Numbering of shares 89. Issue of shares 90. Alteration in number of shares 91. Fractional shares 92. Pre-emptive rights to new issues 93. Consideration for issue of shares 94. Shares not paid in cash 95. Calls on shares 96. Consent to issue shares 97. Time of issue of shares 98. Board may authorize…