1. Effects of the Contract Under common Law
2. 4. Promoter and The Pre-Incorporation Contract
2.1. Definition of Promoter - No specific definition under Companies Act 2016
2.2. Legal duties of promoters
3. 5. Pre-Incorporation Contract
3.1. Effects of the Contract Under the Companies Act 2016
4. 6. Constitution Of A Company
4.1. Legal Effects of The Constitution
4.2. Doctrine of 'Ultra Vires' Under Companies Act 2016
4.3. Doctrine of 'Ultra Vires' Under Common Law
4.4. Amendment of the Constitution
4.5. Effects of Constitution
5. 1.INTRODUCTION
5.1. Incorporation is a legal process used to form a corporate entity or company
5.2. Incorporating a business means turning a sole proprietorship or general partnership into a company.
6. 2.FORMATION OF A COMPANY
6.1. Companies Act 2016 - incorporation process simplified with the single form (Super Form)
6.2. Documents required in forming a company is according to section 14.
6.2.1. 1.Super form - single electronic incorporation template accessible through SSM's MyCoID 2016
6.2.2. 2.Declaration from Directors and Promoter(s)
6.2.3. 3.Optional Constitution of Company
7. 3. EFFECT OF A COMPANY'S INCORPORTION
7.1. Characteristics of a company
7.1.1. Body corporate
7.1.2. The company can sue and be sued
7.1.3. Right to own, acquire or dispose of any property/asset
7.1.4. Contractual capacity
7.1.5. Liability of members
7.1.6. Perpetual succession (Continuity of life/Existence)
7.2. Exception to the Veil of Corporation
7.2.1. Statutory Exception
7.2.1.1. Distribution of Dividends out of Company's Profit : Section 131(1)
7.2.1.2. Fraudulent Trading: Section 540(1)
7.2.1.3. Liability for Debts: Section 540(2) with Section 539(3)
7.2.1.4. Default in Contribution : Section 46 Employees Provident Act 1991
7.2.1.5. Default in Contribution: Section 108A Employees Social Security Act 1969
7.2.2. Judicial Exceptions
7.2.2.1. Prevention of Fraud or Improper conduct
7.2.2.2. Avoidance of Contractual Obligations and Sham Companies
7.2.2.3. Public Policy or Enemy Character
7.2.2.4. Agency
7.2.2.5. Group of Companies