Sky Software
Help and User guide

Sky Sec Incorporation of a Company

The formation of companies under the new Companies Act is quite different from that of the old Act.  There are fewer forms to produce and an incorporator is responsible for all the documents and is the signatory on all the forms on formation. Secretarial practices requiring shelf companies can just form a company making use of the Registration Number as the name, making themselves the incorporator using the standard 15.1A MOI and probably generating these companies very quickly on line with the CIPC. 
When they sell a company all they would need to do is go through the name change procedure, changing the company to the new name that the client wants as well as issuing shares and appointing the directors. 
It is no longer necessary to appoint subscribers when one forms a new company, one can take care of all the shareholdings after the company is formed. This also applies to directors as the Incorporator is in fact the first director of the company.
The long term aim of the regulators is to have one company ’s Act that governs all entities and this will include close corporations in the future.
It will be necessary to address each tab on the screen below in order to form a company. Once you have completed the screen, print the forms adjusting the data on the screen until the forms are right.
18 November 2018