C O N T E N T S 

• Introduction and name
• Formation of companies
• Private companies and public companies
• Memorandum and articles of association
• Contents of memorandum
• Contents of the articles
• Registration
• Registration of private companies
• Registration of public companies
• Certificate of incorporation
• Company names
• Change of name
• Calling for change of name
• Registration of a new name
• Effect of change of name
• Effect of registration
• Register of members
• List of members
• Liability of the members
• Alterations of memorandum and articles of association
• Private company becoming public
• Public company becoming private
• Effect of change in company status
• Sale of shares to the public
• Prospectus
• Permission to sell shares to the public
• Form of the prospectus
• Contents of the prospectus
• False information in prospectus
• Shares
• Allotment of shares
• Value of shares
• No share at a discount
• Shares jointly owned
• Financial assistance for the purchase of company shares
• Share certificate
• Considerations
• Transfer of shares
• Transfer of shares and registration
• Transmission of shares
• Failure to answer a call up for share payment
• Increase of capital
• Reduction of share capital
• Seal
• Commencement of business
• Management of the Company
• Board of directors
• Company secretary
• Loans and guarantees to directors
• Appointment and removal of directors
• Removal of directors for their actions
• Meetings of the board
• Chairman of the board
• Quorum
• Minutes
• Annual general meeting
• Extraordinary general meeting
• Notice for annual general meeting
• Quorum for general meeting
• Right to attend general meetings
• Chairman of the general meeting
• Minutes
• Voting
• Accounts and Audit
• Duty to keep accounting records
• Where and the period for keeping records
• Passing of accounts
• Annual accounts and annual report
• Contents of the accounts
• Laying of the accounts and reports before the general meeting
• Accounts and reports to be delivered to the registrar
• Appointment of auditors
• Auditor’s report
• Power of the registrar of companies to convene a general meeting of the company
• Members applying for a court order
• Abuse of corporate entity status
• Winding up of a company
• Voluntary dissolution
• Cessation of business on commencement of the winding up
• General meeting to dissolve the company
• Removal of the person appointed to wind up the company
• Winding up by the court
• Persons who may petition for a winding-up order
• Notification of the person appointed to the registrar of companies
• Notice of the winding up of the company
• Result of the commencement of the winding up process
• Duties of the person or persons appointed to wind up the company
• Qualifications of the person or persons appointed to wind up the company
• Transfer of shares after the commencement winding up process
• All moneys to be secured in a bank account
• Maintenance of accounts
• Decision of the court
• Order of settling company’s debts
• The final account
• End of winding up
• Companies registered outside Republic of Maldives
• Government companies
• Legal personality
• Transfer of shares of a government company
• Other matters
• Regulations
• Definitions
• SCHEDULE