Companies Act, 1973 (Act No. 61 of 1973)

Chapter IV: Formation, Objects, Capacity, Powers, Names, Registration and Incorporation of Companies

Registration and Incorporation

65. Effect of incorporation on company and members
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1)From the date of incorporation stated in the certificate of incorporation, the subscribers of the memorandum together with such other persons as may from time to time become members of the company, shall be a body corporate with the name stated in the memorandum, capable of exercising all the functions of an incorporated company, and having perpetual succession, but with such liability (if any) on the part of the members to contribute to the assets of the company in the event of its being wound up as provided by this Act.

 

2)The memorandum and articles shall bind the company and the members thereof to the same extent as if they respectively had been signed by each member, to observe all the provisions of the memorandum and of the articles, subject to the provisions of this Act.