Post-incorporation matters refer to matters or activities companies should pay attention to after incorporation. Upon incorporation, your company is duly registered and has legal force. However, there are still a few compliance issues you have to take cognizance of either as a newly incorporated company or as a company actively doing business in Nigeria.
In this article, we will be discussing what post-incorporation matters are. Also, we’ll examine post-incorporation matters you would likely face as a company.
Before we delve into these, we would begin with a proper understanding of the term – post-incorporation. Let’s begin.
Post-incorporation Defined
Post-incorporation, just as the name implies refers to the status of the company after incorporation. Within the corporate context, post-incorporation matters are requirements that a company must comply with in line with the prescribed guidelines as applicable.
Let’s now proceed to examine these post-incorporation matters.
Post-Incorporation Matters Companies Should Know
There are several post-incorporation matters companies should know. But, in this article, we’ve identified 4 of them. Check them out below.
1. Filling of Annual Returns
Companies need to fulfill this upon incorporation. As a company, you file your annual returns within the stipulated period. When you don’t, CAC registrar of companies can delist your company name from the list of registered companies.
2. Name Publication
Upon incorporation, you have to affix your name and registration number on the outside of every office or place where your business operates. Also, you need to use legible characters and be conspicuous about it.
3. Registrations
In the case of registrations, every company needs to register any modifications with the Corporate Affairs Commission. For example, when you change your directors, office address, charges, increase or decrease in share capital, etc. They are all required to be registered with the Commission.
4. Keeping of Statutory Books
This largely depends on the status of your company. Both private and public companies require statutory books. For instance, both need minutes of meetings, while an index of members is for public companies. That’s an example. Also, private companies should maintain a register of members and directors. Furthermore, it’s important to note registers – secretaries and registers of shareholdings.
Importantly, beyond ensuring compliance with all pre-incorporation and post-incorporation matters, it’s equally vital to ensure maximum compliance with matters required after incorporation. We have highlighted a few of these above but you should yet seek comprehensive advice from your lawyers to avoid issues with the regulators.
References
- Ifeanyi Ogbuka, “The Most Necessary Post Incorporation Filings, Partnerships in Nigeria” available at https://www.tekedia.com/the-most-necessary-post-incorporation-company-filings-partnerships-in-nigeria/ accessed on September 22 2023
- Companies and Allied Matters Act 2020 available at https://www.cac.gov.ng/wp-content/uploads/2020/12/CAMA-NOTE-BOOK-FULL-VERSION.pdf accessed on September 22, 2023
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