The Federal Ministry of Justice has advised companies limited by guarantee to file their memoranda properly for the approval of the Attorney General of the Federation as provided by law.
A director in the solicitor’s department, Uchechukwu Kalu, gave the advice on Wednesday during a one-day sensitisation/workshop guidelines for incorporation of companies limited by guarantee in Abuja.
He said after the presidential executive order of 2017 was issued to ensure businesses are transacted in a transparent manner and an official gazette of December 23, 2021, it was discovered that clients didn’t know how to prepare their applications properly.
He added that the workshop is part of efforts to sensitize clients, who are mostly lawyers, to file their clients’ documents properly without ambiguity, precise, concise, free from grammatical and typological errors, free from cancellations, erasure, alteration or mutilation, and contain only the objects of the company as required by law.
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In his remarks, a desk officer for companies limited by guarantee in the Corporate Affairs Commission (CAC), Yahaya Shuaibu Abubakar, described the workshop as informative and rich.
“We look forward to organise something like that between us and all the relevant stakeholders to see how the process will be streamlined as we move on,” he said.
Section 26(4) of the Companies and Allied Matters Act (CAMA, 2020) provides that “The memorandum of association of a company limited by guarantee shall not be registered without the authority of the honourable Attorney General of the Federation.”
Companies limited by guarantee are usually incorporated as a venture without shares in areas such as commerce, art, science, religion, sports, culture, education, research, charity and other similar objects.
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