ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria A TERM PAPER REPORT ON TYPES AND REGISTRATION OF COMPANIES WRITTEN BY: OLADEINDE KAYODE JOHNSON ARC/06/9482

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria TABLE OF CONTENTS 1.0Introduction 2.0Company and Applied Matters Act (CAMA) Chapter 59 Laws of the Federal Republic of Nigeria The Corporate Affairs Commission (CAC) 4.0Types of Companies 5.0 Conclusion

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 1.0INTRODUCTION The types and registration of companies is a serious business according to the law of Federal Republic of Nigeria. The inefficiency and ineffectiveness of the erstwhile Company Registry,

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 1.0INTRODUCTION CONTD. a department within the Federal Ministry of Commerce and Tourism which was responsible for the registration and administration of the repealed Company Act of 1968 gave birth to the Company and Applied Matters Act (CAMA) in January 1990.

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 2.0 COMPANY AND APPLIED MATTERS ACT (CAMA) On 2nd January 1990 there was the commencement of Company and Applied Matters act (CAMA) to establish the Corporate Affairs Commission.

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 3.0 THE CORPORATE AFFAIRS COMMISSION (CAC) CAC was established under the Company and Applied Matters Act (CAMA) to regulate the formation and management of companies in Nigeria. The headquarters of the commission is situated in Abuja.

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 3.1 SERVICES OFFERED BY CAC Regulations and supervision of the formation, incorporation, registration and management of companies, Business Names and Incorporated Trustees. Registration of changes, amendments and alterations in particulars of companies, Business Names and Incorporated trustees. ETC.

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 4.0 TYPES OF COMPANIES Basically, there are 3 types of companies; Companies limited by shares Companies limited by guarantee Unlimited liability companies Each of these types of companies could either be a private or public company classified as;

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 4.0 TYPES OF COMPANIES CONTD Private Company limited by shares Private unlimited Company Public Company limited by shares Public unlimited company Company limited by guarantee

ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria ARC 807: Professional Practice and Procedure Department of Architecture, Federal University of Technology, Akure, Nigeria 5.0 CONCLUSION The paper from the above analysis highlighted that there were different rules, regulations and procedures in company regulation and different types of companies permitted to be established by law.