• Access to Capital: Public companies can raise capital by issuing shares to the public through the stock market, providing them with a larger pool of funds compared to private companies.
• Liquidity of Shares: Shares of public companies are traded on stock exchanges, allowing investors to buy and sell them easily. This liquidity can attract more investors to the company.
• Enhanced Visibility and Prestige: Public companies often have higher visibility and prestige, which can be advantageous for attracting customers, business partners, and talented employees.

(ii) Distinguishing Between "Corporation Sole" and "Corporation Aggregate"

Corporation Sole:

A "corporation sole" is a legal entity consisting of a single individual who is recognized as a corporate body, usually holding a specific office or position. The entity continues to exist despite changes in the individual holding the office.

Corporation Aggregate:

A "corporation aggregate" refers to a legal entity formed by a group of individuals or shareholders. This type of corporation has a perpetual existence, and its continuity is not affected by changes in its membership.

1. Basic Salary: The fixed amount paid to directors as regular compensation for their services.
2. Bonuses: Additional payments made to directors based on their performance or the company's financial achievements.
3. Stock Options: Directors may be granted the option to purchase company shares at a predetermined price, providing them with a stake in the company's success.
4. Benefits and Perks: Non-monetary benefits such as health insurance, car allowances, or other allowances that contribute to the directors' overall compensation.

(ii) Notes to Financial Statements: Loans, Quasi-Loans, or Credit Transactions

In the notes to the financial statements of a company, information on loans, quasi-loans, or credit transactions in favor of directors, their controlled bodies corporate, and their connected entities should be included. This information includes:

• Details of Transactions: Disclose the nature and terms of any loans, quasi-loans, or credit transactions, including amounts involved and any interest rates applicable.
• Conditions and Purpose: Specify any conditions attached to the transactions and the purpose for which the financial assistance was given.
• Repayment Terms: Provide information on the repayment terms, including the maturity dates and any provisions for early repayment.
• Security or Collateral: Disclose whether any security or collateral was provided in connection with the transactions.

Financial Statements Prepared Annually

The following are key financial statements prepared by a company annually:

1. Income Statement (Profit or Loss Statement): This statement outlines the company's revenues, expenses, and profits or losses over a specific period. It provides a snapshot of the company's ability to generate profit from its operations.
2. Balance Sheet (Statement of Financial Position): The balance sheet presents the company's assets, liabilities, and equity at a specific point in time. It reflects the company's financial position and its ability to meet its obligations.
3. Cash Flow Statement: This statement tracks the inflows and outflows of cash and cash equivalents. It categorizes cash flows into operating, investing, and financing activities, providing insights into the company's cash management.
4. Statement of Changes in Equity: This statement details changes in the company's equity over the reporting period, including contributions from shareholders, net income, and dividends.

These financial statements collectively offer a comprehensive view of a company's financial performance, position, and cash flows, enabling stakeholders to make informed decisions about the business.

• Senior Position: The Company Secretary holds a senior and pivotal position within the company's organizational structure, often reporting directly to the board of directors.
• Legal Designation: In many jurisdictions, the role of a Company Secretary is legally defined, and certain legal responsibilities are assigned to this position.
• Corporate Governance: The Company Secretary plays a crucial role in ensuring adherence to corporate governance practices, regulatory compliance, and ethical standards.
• Confidentiality and Trust: Due to involvement in sensitive matters, the Company Secretary is entrusted with maintaining confidentiality and building trust among stakeholders.

Duties of a Company Secretary in a Quoted Company

In a quoted or publicly traded company, the Company Secretary's duties are extensive and encompass various responsibilities. Some key duties include:

1. Ensuring Regulatory Compliance: The Company Secretary ensures that the company complies with all relevant laws, regulations, and stock exchange requirements.
2. Organizing Board Meetings: Facilitating and organizing board and committee meetings, including preparing agendas, taking minutes, and ensuring timely distribution of board papers.
3. Communication with Shareholders: Managing communication with shareholders, handling queries, and ensuring that the company maintains transparency in its interactions with the investing public.
4. Corporate Governance: Overseeing corporate governance practices, advising the board on governance matters, and implementing governance policies and procedures.

These duties highlight the critical role the Company Secretary plays in maintaining legal compliance, facilitating effective communication, and upholding governance standards in a quoted company.

1. Memorandum of Association: A document that sets out the company's constitution, including its name, registered office, and objectives.
2. Articles of Association: Governing rules that regulate the internal management and administration of the company, specifying roles and responsibilities of shareholders and directors.
3. Form CR1: This form includes details about the initial directors, secretaries, and authorized signatories of the company.
4. Form CR2: This serves as a template for the Memorandum for companies with share capital, specifying the names of share subscribers and their subscribed shares.
5. Form CR8: This form is used to notify or update the residential address of a director.
6. Form CR10: This form acts as a notice for the appointment of a secretary, providing essential details about the appointed secretary. It applies to companies with a nominal share capital exceeding 5 million Kenyan shillings.
7. Statement of Nominal Share Capital Form: This document outlines the nominal share capital, class of shares, and the value of each share.
8. Form BOF1: This form functions as the register of beneficial owners, recording details such as the date of becoming a beneficial owner, basic information and addresses, the percentage of shares held, and the source of recorded information.
9. Form CR14: Form CR14 is a mandatory application document used to reserve the name of the company during the limited company registration process. A prescribed fee of KES 150 must accompany the form.
10. Tax PIN Certificates: As part of the registration, you are required to provide photocopies of the tax PIN certificates for each shareholder or director. These certificates are obtainable from the Kenya Revenue Authority (KRA). Foreign nationals must possess an alien card or a Foreign Registration Certificate to obtain a Tax PIN Certificate.
11. Passport-sized Photos: All directors or shareholders must submit passport-sized photos during the registration process. The photos should ideally measure 5.5cm by 5.5cm and should not be more than six months old at the time of company registration.
12. ID or Passport: A scanned copy of a government-issued ID card or passport is also required. If using an ID, ensure both sides are clearly visible. The photocopy of the passport should include all pertinent information.

Common Law Duties of a Promoter

1. Fiduciary Duty: The duty to act in the best interests of the company and its shareholders.
2. Duty of Good Faith: Promoters must act honestly and with integrity throughout the formation process.
3. Duty of Full Disclosure: Promoters must disclose all relevant information to the company and its shareholders.
4. Duty to Avoid Conflicts of Interest: Promoters should avoid situations where their personal interests conflict with those of the company.
5. Duty of Care: Promoters must exercise reasonable care and skill when carrying out their duties.
6. Duty to Account for Profits: Promoters must account for any secret profits made during the formation process.
7. Not to Usurp Corporate Opportunities: Promoters must not take opportunities for themselves that should belong to the company.
8. Duty to Provide True Information: Promoters should provide accurate and truthful information to potential investors and the public.
9. Duty to Exercise Utmost Good Faith: Promoters are held to a high standard of good faith and fair dealing in all their dealings on behalf of the company.
10. Duty to Act Within Authority: Promoters must act within the scope of the authority granted to them by the company's articles and relevant legal provisions.

1. Initial Public Offering (IPO): A company can raise share capital by going public and offering its shares to the general public through an IPO. This involves listing the company's shares on a stock exchange.
2. Rights Issue: A rights issue allows existing shareholders to purchase additional shares at a discounted price. This is a way for a company to raise capital from its current shareholders based on their existing ownership.
3. Private Placement: In a private placement, a company issues shares to a select group of investors without making them available to the general public. This is often done to raise capital from specific investors or institutions.
4. Bonus Issue: A bonus issue involves issuing additional shares to existing shareholders without any consideration. This is typically done as a capitalization of reserves or accumulated profits.
5. Convertible Debentures: Companies can issue convertible debentures, which are debt instruments that can be converted into equity shares at a predetermined conversion ratio. This allows the company to raise capital through debt initially.

Circumstances When Shares Might be Issued at a Discount

Issuing shares at a discount is generally prohibited, but certain circumstances may allow for it under the law, including:

1. Authority Granted by Shareholders: Shares can be issued at a discount if the company's articles of association grant the authority to do so, and the shareholders pass a special resolution approving the discount.
2. Financial Reconstruction: In cases of financial reconstruction, where a company is facing financial distress, shares may be issued at a discount with the approval of the court to facilitate the company's recovery.
3. Issue of Sweat Equity: Sweat equity shares, issued to employees or directors for their contributions, may be allowed at a discount, subject to compliance with regulatory requirements.
4. Issue of Shares for Non-Cash Consideration: If shares are issued for consideration other than cash (e.g., assets), and the value of the consideration is determined to be less than the nominal value of the shares, it may be considered an issue at a discount.

1. Right to Ownership: Members have the right to ownership of the company to the extent of their shareholding. They can participate in the company's profits and are entitled to a share in the company's assets upon liquidation.
2. Right to Vote: Members typically have the right to vote at general meetings of the company. This includes voting on resolutions related to important company matters such as the appointment of directors, approval of financial statements, and changes to the company's constitution.
3. Right to Receive Dividends: Members are entitled to receive dividends declared by the company. Dividends represent a share of the company's profits distributed to its shareholders.
4. Right to Information: Members have the right to access certain information about the company. This includes the right to inspect the company's register of members, financial statements, and minutes of general meetings.
5. Pre-emptive Rights: In some cases, members may have pre-emptive rights, allowing them the opportunity to purchase additional shares before they are offered to external parties. This helps maintain their proportionate ownership.
6. Right to Transfer Shares: Members have the right to transfer their shares to others, subject to any restrictions specified in the company's articles of association or shareholder agreements.
7. Right to Attend Meetings: Members can attend and participate in general meetings of the company, where important decisions are made. This is an essential right for exercising their voting and information rights.
8. Right to Sue: Members may have the right to take legal action on behalf of the company, known as a derivative action, if they believe the company's affairs are being mismanaged, and the company fails to take appropriate action.
9. Right to Constitutional Changes: Members typically have the right to approve changes to the company's constitution. Significant changes may require a special resolution passed by the members.
10. Right to Fair Treatment: Members have the right to be treated fairly and equitably by the company and its directors. They are entitled to expect the company to act in their best interests.

1. Authorization in the Articles of Association: The company's articles of association must authorize the issuance of shares. This document outlines the rules and regulations governing the company, including the types of shares that can be issued.
2. Issuance at Par: Shares are often issued at their nominal or par value, as specified in the company's articles. Par value represents the minimum issue price of a share.
3. Issuance Premium: Shares may be issued at a premium, i.e., at a price higher than their nominal value. The premium amount is treated as additional paid-up capital.
4. Pre-emptive Rights: Existing shareholders may have pre-emptive rights, allowing them the opportunity to purchase additional shares before they are offered to external parties. This helps maintain their proportionate ownership.
5. Types of Shares: Rules govern the creation and issuance of different types of shares, such as ordinary shares, preference shares, and others. Each type may carry distinct rights and privileges.
6. Alteration of Share Capital: Changes to the share capital, such as increasing or reducing it, require approval through a special resolution passed by the shareholders. This is subject to compliance with regulatory requirements.
7. Buyback of Shares: Companies may buy back their own shares, subject to certain rules and conditions. Buybacks must comply with legal and regulatory provisions, and funds used for buybacks must come from distributable profits.
8. Dividends: Rules dictate the declaration and payment of dividends to shareholders. Dividends are a distribution of profits and must comply with the company's dividend policy and legal requirements.
9. Transfer of Shares: The transfer of shares is governed by rules outlined in the company's articles. Shareholders must follow the prescribed procedures for transferring ownership of shares.

1. Authorised Share Capital:
   
   

   Authorised share capital refers to the maximum amount of capital that a company is legally authorized to issue to its shareholders. It represents the upper limit defined in the company's memorandum of association. The company may issue shares up to this authorised amount, but it can choose to issue fewer shares initially. Any increase in authorised share capital requires approval from shareholders through a special resolution.



2. Called-up Share Capital:
   
   

   Called-up share capital is the portion of the authorised share capital that the company has asked shareholders to pay. When a company issues shares, it may not require shareholders to pay the entire authorised amount immediately. The portion that the company demands payment for is known as the called-up share capital. Shareholders are obligated to pay this amount, and failure to do so may result in penalties or consequences specified in the company's articles of association.



3. Fixed and Circulating Share Capital:
   
   

   Fixed and circulating share capital refers to the classification of share capital based on its nature within a company. Fixed capital represents the portion that is permanently invested in the company, providing a stable financial base. It is not subject to frequent changes. On the other hand, circulating capital is more fluid and can be adjusted based on the company's needs. It may include shares that are bought and sold in the open market. This classification helps in understanding the stability and flexibility of the company's capital structure.

1. Floating Charges: Charges over the assets of a company that may change in quantity and value, such as inventory or other fluctuating assets.
2. Fixed Charges: Charges over specific assets of a company, such as land, buildings, or machinery, providing a fixed security interest in those assets.
3. Charge on Book Debts: Charges secured against the debts owed to the company as recorded in its books, providing a security interest in the accounts receivable.
4. Charge on Unpaid Calls: Charges securing the unpaid portion of calls on shares, ensuring that the company has a claim on the unpaid amounts from shareholders.
5. Charge on Uncalled Capital: Charges securing the yet-to-be-called portion of a company's share capital, providing additional security for the company's creditors.
6. Chattels Mortgage: Charges over movable personal property, excluding land and buildings, serving as security for a loan or debt.
7. Charge on Copyrights and Patent Goodwill, etc.: Charges securing intellectual property rights, including copyrights, patents, and goodwill, providing security for specific intangible assets.
8. Charge on a Ship or Any Part Thereof: Charges securing an interest in a ship or its components, ensuring that the company has a claim on the vessel in case of default.

1. Charge Identification: Clearly identify and describe the nature of the charge, whether it is a floating charge, fixed charge, or any other specific type.
2. Date of Creation: Specify the date on which the charge was created or acquired by the company. This is crucial for establishing the timeline of the charge.
3. Details of Charged Assets: Provide comprehensive details of the assets that are subject to the charge. This may include a list of specific assets, such as properties, book debts, copyrights, or any other collateral.
4. Amount Secured: Clearly state the amount or value that the charge is securing. This could be the outstanding loan amount, the value of the property, or any other financial obligation.
5. Parties Involved: Identify the parties involved in the charge, including the company and the creditor or lender. Provide their names, addresses, and any relevant identification details.
6. Terms and Conditions: Outline the terms and conditions of the charge agreement. This may include interest rates, repayment schedules, and any other relevant clauses.
7. Registration Details: If the charge is a registrable charge, ensure that the registration details, including the registration number and date, are included. This is vital for compliance with regulatory requirements.
8. Instrument or Deed: Attach a copy of the instrument or deed creating the charge. This document should provide a legal description of the charge and may include covenants or obligations.
9. Company Resolution: If applicable, include a copy of the company resolution authorizing the creation of the charge. This is especially important for fixed charges and other significant financial transactions.
10. Registrar Filing Fee: Ensure that the requisite filing fee is paid to the Registrar of Companies along with the submission of the charge particulars. This fee may vary depending on the jurisdiction.

1. Technology Check: Ensure that the chosen virtual meeting platform is accessible and compatible with the technology used by all participants. Test audio, video, and screen-sharing features in advance to avoid technical glitches during the meeting.
2. Meeting Agenda: Develop a clear and detailed meeting agenda. Share it with participants in advance to allow for proper preparation and understanding of the topics to be discussed.
3. Meeting Invitations: Send meeting invitations well in advance, including the date, time, and virtual meeting link. Provide clear instructions on how participants can join the virtual meeting, along with any required login credentials.
4. Security Measures: Implement security measures to protect the virtual meeting from unauthorized access. Use password protection, waiting rooms, or other features provided by the virtual meeting platform to ensure confidentiality.
5. Training Session: Conduct a training session or provide guidelines to participants on using the virtual meeting platform. This is especially important for participants who may not be familiar with the chosen technology.
6. Backup Communication: Establish alternative communication channels in case of technical issues during the virtual meeting. This may include a dedicated support line or an alternative communication platform to relay important information.
7. Quorum Check: Verify the quorum requirement for the meeting and ensure that a sufficient number of participants will be in attendance virtually to make decisions valid.
8. Documentation: Prepare and share relevant documentation, such as presentations, reports, and other materials, well in advance of the meeting. Ensure that all participants have access to these documents for informed discussions.
9. Facilitator and Technical Support: Appoint a facilitator to guide the virtual meeting and provide technical support if needed. This individual should be familiar with the virtual meeting platform and capable of addressing any issues that may arise.
10. Engagement Plan: Develop an engagement plan to encourage active participation. Establish guidelines for raising hands, using chat features, and other interactive elements to facilitate smooth communication.

• Evidence in Legal Proceedings: The inspector's report serves as admissible evidence in legal proceedings. It can be used to support or challenge claims, allegations, or legal actions related to the company's affairs.
• Grounds for Regulatory Action: Regulatory bodies may rely on the findings of the inspector's report to initiate legal actions or regulatory measures against the company or its officers if any breaches of laws or regulations are identified.
• Basis for Shareholder Actions: Shareholders may use the inspector's report as a basis for legal actions against the company or its management if the report reveals actions that are prejudicial to the interests of the shareholders.
• Impact on Corporate Governance: The report can have a lasting impact on the company's corporate governance practices, influencing changes in policies, procedures, or the composition of the board of directors.
• Rectification Orders: Courts may issue rectification orders based on the findings of the inspector's report, directing the company to take specific actions to remedy identified issues.

(ii) Duties of Management During Company Investigations

The management of a company has specific duties and responsibilities during a company investigation:

• Cooperation with Investigators: Management must fully cooperate with the investigators, providing access to relevant documents, information, and personnel as required.
• Preservation of Evidence: Management should ensure the preservation of relevant evidence, preventing any alteration, destruction, or tampering that could affect the integrity of the investigation.
• Communication with Shareholders: Transparent communication with shareholders is essential. Management should keep shareholders informed about the investigation's progress and outcomes within legal constraints.
• Implementation of Recommendations: If the inspector's report includes recommendations, management should diligently implement corrective actions to address identified issues and prevent future misconduct.
• Legal Compliance: Management must ensure compliance with all legal obligations throughout the investigation process, including providing accurate and timely information to investigators.

(iii) Types of Proceedings Resulting from Inspector's Report

Various legal proceedings may result from the inspector's report of a company's investigation:

• Civil Proceedings: Shareholders or regulatory bodies may initiate civil proceedings based on the inspector's report, seeking compensation, rectification, or other legal remedies.
• Criminal Prosecution: If the report uncovers criminal offenses, law enforcement agencies may initiate criminal proceedings against individuals or the company itself.
• Regulatory Enforcement: Regulatory bodies may take enforcement actions, such as imposing fines, sanctions, or revoking licenses based on the inspector's findings.
• Internal Disciplinary Actions: The company's internal disciplinary mechanisms may be activated to address wrongdoing identified in the report, including actions against employees or management.
• Shareholder Actions: Shareholders may file derivative actions or class-action lawsuits against the company or its officers based on the inspector's report, seeking damages or changes in corporate governance.

1. Insufficient Assets: If the company undergoing liquidation has insufficient assets to cover the costs of the liquidation process, the official receiver may apply for early dissolution to avoid incurring additional expenses that cannot be recovered.
2. No Further Action Required: When the official receiver determines that there are no further actions or investigations needed in the liquidation process and that the company's affairs are fully resolved, they may seek early dissolution to conclude the formalities.
3. No Distribution to Creditors: If it becomes evident that there will be no distribution to unsecured creditors due to a lack of assets, the official receiver may apply for early dissolution to bring the liquidation to a close without further delay.
4. No Ongoing Legal Proceedings: If there are no ongoing legal proceedings or disputes that require the continuation of the liquidation process, the official receiver may apply for early dissolution to formally close the company.
5. Unclaimed Assets: In cases where there are unclaimed assets, and efforts to locate and distribute them have been exhausted, the official receiver may apply for early dissolution to conclude the liquidation process.
6. Completion of Administrative Tasks: When all administrative tasks related to the liquidation, such as filing reports and finalizing accounts, have been completed, the official receiver may seek early dissolution to formally wind up the company.
7. No Public Interest Concerns: If there are no public interest concerns or reasons to keep the company's legal existence intact, the official receiver may apply for early dissolution to close the company's register.
8. Consent of Creditors: If the official receiver obtains the consent of the company's creditors, especially if they agree that further liquidation proceedings are unnecessary, this may be a basis for applying for early dissolution.
9. Statutory Compliance: When the company has complied with all statutory requirements and the official receiver is satisfied that there are no outstanding issues, they may apply for early dissolution.

1. Expiration of Duration: If the company was established for a specific duration, voluntary liquidation may occur upon the expiration of that duration or the achievement of its stated purpose.
2. Fulfillment of Objectives: Once the company has achieved its objectives or purposes as outlined in its memorandum of association, the shareholders may decide to initiate voluntary liquidation.
3. Financial Insolvency: If the company is unable to pay its debts and is insolvent, the directors and shareholders may choose voluntary liquidation as a means of winding up the affairs and distributing assets to creditors.
4. Shareholder Resolution: Shareholders may pass a special resolution to voluntarily liquidate the company, typically requiring a significant majority vote in favor of the decision.
5. Board Recommendation: The company's board of directors may recommend voluntary liquidation to shareholders if they believe it is in the best interests of the company and its stakeholders.
6. End of Business Operations: If the company ceases its business operations or if it becomes dormant, the shareholders may opt for voluntary liquidation to formalize the winding-up process.
7. Reduced Profitability: Persistent financial losses and reduced profitability may lead shareholders and directors to consider voluntary liquidation as a way to minimize further financial distress.
8. Shareholders' Agreement: Provisions in a shareholders' agreement may stipulate circumstances under which voluntary liquidation can be initiated, providing a predetermined mechanism for the process.
9. Special Circumstances: Special circumstances, such as a change in regulatory requirements, legal compliance issues, or external factors impacting the company's viability, may warrant voluntary liquidation.
10. Internal Disputes: In the case of internal disputes among shareholders or between shareholders and directors that cannot be resolved, voluntary liquidation may be seen as a way to dissolve the company and distribute assets.

1. Appointment by the Board of Directors: The board of directors may appoint a new auditor to fill the casual vacancy. This appointment is typically temporary and subject to confirmation by the shareholders at the next general meeting.
2. Appointment by Shareholders: Shareholders have the authority to appoint a new auditor in case of a casual vacancy. This is usually done through an extraordinary general meeting (EGM) where shareholders vote on the appointment.
3. Appointment by the Existing Auditors: If the company has multiple auditors, the remaining auditors may appoint a new auditor to fill the casual vacancy. This appointment is also subject to confirmation by shareholders at the next general meeting.
4. Appointment by the Regulatory Authority: In some jurisdictions, the regulatory authority overseeing companies may have the power to appoint an auditor to fill a casual vacancy, especially if the vacancy poses a significant risk to the company's financial reporting.
5. Appointment by the Audit Committee: If the company has an audit committee, the committee may be involved in the selection and appointment of a new auditor to fill the casual vacancy. This process is often in line with the company's governance structure.
6. Notification and Confirmation: Once a new auditor is appointed to fill the casual vacancy, the company must notify the relevant authorities, including the registrar of companies, and seek confirmation from shareholders at the next general meeting.
7. Temporary Appointment: In some cases, the board may make a temporary appointment to ensure that the audit function continues without disruption. The temporary appointment is subject to confirmation by shareholders as soon as possible.
8. Compliance with Legal Requirements: It's essential to ensure that the appointment process aligns with legal requirements and regulations governing the appointment of auditors in the jurisdiction where the company operates.
9. Consideration of Qualifications: When filling a casual vacancy, the qualifications and expertise of the prospective auditor should be considered to ensure that they meet the regulatory and industry standards for auditing.
10. Communication to Stakeholders: The company should communicate the appointment of the new auditor to stakeholders, including shareholders, and provide information on the reasons for the vacancy and the qualifications of the newly appointed auditor.

• Ownership or Control: The individual must own or control a significant portion of the company's shares, voting rights, or have the ability to exercise control over the company's management.
• Direct or Indirect Interest: A beneficial owner can have a direct or indirect interest in the company. Indirect interest may arise through ownership of other entities that hold shares in the company.
• Substantial Economic Interest: The individual must have a substantial economic interest in the company's performance, either through the ownership of shares or other financial instruments.
• Exercising Control: Beneficial ownership extends to individuals who exercise significant control over the company, even if they do not have direct ownership. This includes individuals who can influence decision-making processes.
• Identification of Ultimate Owners: In cases where ownership is held through complex ownership structures, the criteria include the identification of ultimate beneficial owners who exercise ultimate control or ownership.
• Exercising Rights: Individuals who have the right to appoint or remove a majority of the board of directors or who otherwise exercise significant influence or control over the company.
• Real and Substantive Control: The criteria may require that beneficial ownership is real and substantive, and not merely nominal or formal in nature.
• Understanding of Ownership: Individuals who are deemed to have an understanding of beneficial ownership, even if they do not hold formal legal ownership, may be considered beneficial owners.

(ii) Particulars in the Register of Beneficial Owners

Particulars to be entered in the register of beneficial owners as prescribed by regulations may include:

• Full Name: The full legal name of the beneficial owner.
• Date of Birth: The date of birth of the beneficial owner.
• Nationality: The nationality or nationalities of the beneficial owner.
• Residential Address: The residential address of the beneficial owner.
• Identity Document: Details of the identity document used for identification (e.g., passport or national ID).
• Nature of Control or Interest: A description of the nature of control or interest the beneficial owner holds in the company.
• Date of Becoming a Beneficial Owner: The date on which the individual became a beneficial owner of the company.
• Percentage of Ownership: The percentage of ownership or control held by the beneficial owner.
• Details of Ultimate Owners: If applicable, details of ultimate owners who exercise ultimate control or ownership.
• Any Other Relevant Information: Additional information as required by regulatory authorities or specific regulations governing beneficial ownership disclosure.