Section 018

Effect of registration.—The registration of the company has the following effects, as from the date of incorporation—

(a) the subscribers to the memorandum, together with such other persons as may from time to time become members of the company, are a body corporate by the name stated in the certificate of incorporation;

(b) the body corporate is capable of exercising all the functions of an incorporated [1][company, and having perpetual succession];

(c) the status and registered office of the company are as stated in, or in connection with, the application for registration;

(d) in case of a company having share capital, the subscribers to the memorandum become holders of the initial shares; and

(e) the persons named in the articles of association as proposed directors, are deemed to have been appointed to that office.

[1] Substituted through Companies Amendment Act, 2021 dated 03-12-2021. Before substitution it was:

“company, having perpetual succession and a common seal”