When submitting applications to the Corporate Affairs Commission (CAC), you may need to make changes like updating directorship, transferring shares, changing your company’s registered address, appointing a secretary, or even changing your company’s name. Once these applications are filed, they go through a verification process handled by a staff member known as a Verification Officer. This officer ensures that all the submitted information, including online forms and resolutions, is correct before the application is approved.
Here is a simplified breakdown of what a Verification Officer looks for:
Step 1: Company Information on Letterhead
Your company’s letterhead must clearly display the company name, registration number, and registered address, as required by the Companies and Allied Matters Act (CAMA). If these details do not match the records at CAC, your application may be rejected. To avoid this, it is best to conduct a search on your company’s file at the commission before filing.
Step 2: Resolutions by Members and the Board
A company makes decisions through resolutions, which can be Ordinary, Special, or Board resolutions. Ordinary and special resolutions come from the shareholders (members), while Board resolutions are made by the directors.
Some actions require a special resolution under CAMA, such as changing the company’s name, altering the object clause, or reducing capital. For routine matters, an ordinary resolution will suffice. Make sure your resolutions are correctly categorised to avoid delays.
Step 3: Properly Completed Resolutions, Forms & Letters
Verification Officers check the accuracy and completeness of resolutions, forms, and accompanying letters. For example, when filing for changes in directorship, ensure that the new director’s name and address are correctly entered in the relevant sections. Errors in completing these forms will result in queries and potentially, rejection.
Similarly, when realloting shares, you need to complete the online form correctly, ensuring that only the relevant sections are filled out. Always ensure that the dates on the consent letters and resolutions match.
Step 4: Up-to-Date Annual Returns
Your company must file annual returns with CAC to show it is still active. If your returns are not up-to-date when you file a post-incorporation application, the application may be rejected. To prevent this, make sure your annual filings are current before submitting any applications.
Conclusion: Filing with CAC requires attention to detail. Make sure all forms, resolutions, and supporting documents are accurate, properly dated, and in line with CAC’s records. Remember, the process is now online, so ensure you follow the digital submission procedures carefully.
For more information on the above-mentioned topic, please call 08180524686 or send an email to info@ica.ng
