HOW TO INCREASE SHARE CAPITAL OF COMPANY IN UGANDA.
LAW APPLICABLE
- The constitution of the republic of Uganda
- THE COMPANIES ACT, 2012.
- Among others.
Section 73 of the companies Act provides for increase of share capital in Uganda.
A company may increase its share capital in Uganda as follows:
- The company secretary should issue out notices to the share holders inviting them to attend a company meeting for purposes of increasing company’s share capital.
- At the company meeting, shareholder(s) should propose increase of share capital to particular amount and also class.
- Company members in the meeting should discuss the proposal/motion to increase share capital.
- Upon this discuss company members should agree and resolve to increase the company’s share capital in particular, the number of shares and the value of each share unit through a vote.
- The resolution should be reduced in writing and members append their signatures on the resolution.
- The resolution should be paid for and filed at registrar of companies at URSB
- The company should fill in increase of share capital company form, pay for stamp duty and registration fee and then file it at company registry at URSB.
- The company should therefore cause the amendments in their company documents and file them same at company registry.
- Submit the company documents at Registrar of Companies for purposes of registering the changes. you should the n ask when to collect your copies
- Company Registrar will review the company documents submitted including verification of signatures.
- If all is well he or she will register them accordingly.
- check on the date you we told to pick up company copies .
- Author is A regional transactions legal consultant (ADVOCATE) at NOA REGIONAL ASSOCIATED ADVOCATES AND LEGAL CONSULTANTS
Email address: onlinetransactionconsultancy@gmail.com.contacts. +250787311255,+256788105242,+256782105042
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Okumu Martin,Regional transaction consultant/Advocate(AUTHOR) - NOTE: whereas the author has made necessary efforts to ensure the accuracy of this post, it is not intended to provide specific legal advice to a particular individual as individual situations may differ.For specific technical / legal transaction advice on this subject matter and related subject, you may contact the author at online consultancy fee, or contact any transaction legal consultant of your choice.
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