Hassan, a young businessman engaged in the manufacturing of “Healthy Energy Drink”, has recently contacted you for the incorporation of a company to be known as Healthy Energy Limited.

You are required to:

State FIVE incorporation documents required to be submitted by the company, indicating the purpose of each document.

  1. Memorandum of Association: This document outlines the company’s objectives, scope of business, and the relationship between the company and the outside world, including its country of domicile and capital structure.
  2. Articles of Association: This document governs the internal operations of the company, specifying the roles, duties, and rights of the shareholders, directors, and other officers within the company.
  3. Registered Office Address: The company must provide the address of its registered office to the Corporate Affairs Commission (CAC), indicating where all statutory records will be maintained and official correspondence will be directed.
  4. Statement of Share Capital: A document detailing the initial share capital of the company and the allotment of shares among its shareholders at the time of incorporation.
  5. Consent to Act as Director: A declaration by the individuals who are appointed as the first directors of the company, stating their consent to act in that capacity, ensuring compliance with the age and legal requirements.

Explanation:

This question evaluates the candidate’s knowledge of the essential legal documents required to incorporate a company under Nigerian law. It covers key documents that establish the company’s legal identity and operational framework.