Business Analysis : Trinidad & Tobago

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The Companies Act was established to improve the laws relating to companies and to provide for any sort of related and consequential matters. It came into operation on the 15th April, 1997 and is seen as an important step relating to the Government 's regulatory and legal framework for doing business in Trinidad & Tobago. This is to be known as one of the ways to attract persons in business in the Caribbean and Latin America. The Companies Act administers an up to date legal structure for the operations of companies in Trinidad & Tobago. It is stated in the act that no society, association or group consisting of more than ten (10) persons can form any trade or business unless it is incorporated under this act. The incorporation of companies’ state that one or more persons may incorporate a company, with or without limited liability, by signing and delivering articles of incorporation to the Registrar and otherwise complying with the requirements of this Division and the name of every incorporator shall be entered in the company’s register of members after the company’s registration. In addition to this, no individual under the age of eighteen (18) or mentally ill shall be allowed to join a company. The Articles of Incorporation, which is known as the form before a company shall fill out before coming into existence, is seen as a charter. It indicates that the proposed company can go by its proposed name, whether the liability of its members is limited or unlimited and any company can come into existence on the date shown on its certificate of incorporation. Likewise, the word limited or the abbreviation Ltd must be the last word of the name of every limited liability company. Additionally, the company should n... ... middle of paper ... ... Companies is, under the general supervision of the Minister, responsible for the administration of this Act. A seal may be prescribed by the Minister for use by the Registrar in the performance of his duties. Unless otherwise provided by any written law, a document may be served upon the Registrar by leaving it at the office of the Registrar or by sending it by telefax or such other means as the Registrar may approve, or by prepaid post or cable addressed to the Registrar at his office. The Registrar shall maintain a Register of Companies in which to keep the name of everybody corporate that is incorporated under this Act. A person who has paid the prescribed fee is entitled, during normal business hours, to examine, and to make copies of or extracts from, a document, required by this Act or the Regulations, to be sent to the Registrar, except a report sent to him.
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