Acts Online
GT Shield

Close Corporations Act, 1984 (Act No. 69 of 1984)

Part III : Registration, Deregistration and Conversion

12. Founding statement

 

Any person qualified for membership in terms of section 29 or, subject to section 28, any number of such persons who intend to form a corporation, shall draw up a founding statement in the prescribed form in one of the official languages of the Republic, which shall be signed by or on behalf of every person who is to become a member of the corporation upon its registration and which shall, subject to the provisions of this Act, contain the following particulars:

(a) The full name of the corporation: Provided that a literal translation of that name into any one other official language of the Republic, or a shortened form of that name or such translation thereof, may in addition be given;
(b) the principal business to be carried on by the corporation;
(c)
(i) a postal address for the corporation; and
(ii) the address (not being the number of a post office box) of the office of the corporation referred to in section 25(1);
(d) the full name of each member, his identity number or, if he has no such number, the date of his birth, and his residential address;
(e) the size, expressed as a percentage, of each member's interest in the corporation;
(f) particulars of the contribution of each member to the corporation in accordance with section 24(1), including—
(i) any amounts of money; and
(ii) a description, and statement of the fair value, of any property (whether corporeal or incorporeal) or any service referred to in section 24(1);
(g)
(i) the name and postal address of a qualified person who or firm which has consented in writing to his or its appointment as accounting officer of the corporation; and
(ii) the date of the end of the financial year of the corporation.