The Companies Act, 2019 ( ACT 992)
Section 61: (1) Despite section 58 a company may,
(a) create and issue preference shares which are, or at the option of the company are liable, to be redeemed and may convert existing shares, whether issued or not, into those redeemable preference shares subject to sections 62 to 65;
(b) purchase its own shares subject to sections 63 to 67;
(c) acquire its own shares by a voluntary transfer to the company or to nominees for the company subject to compliance with sections 62 to 65; and
(d) acquire its own shares pursuant to the buy-out provisions in section 222.
(2) For the purposes of subsection (1), shares shall not be redeemed, purchased or acquired by the company so long as there is an unpaid liability on those shares.
(3) A company may forfeit the shares issued with an unpaid liability for non-payment of the sums of money due and payable on those shares.
(4) On redemption, purchase, acquisition or forfeiture, shares shall be available for re-issue by the company unless a company amendment of the constitution of the company cancels those shares.
(5) Shares which are cancelled by virtue of the constitution of the company, shall until re-issued or cancelled, be referred to as treasury shares.
(6) Except as provided in section 69, a redemption, purchase, an acquisition or a forfeiture by the company of the shares of the company, or the cancellation of shares so redeemed, purchased, acquired or forfeited shall not reduce the stated capital of the company.
(7) Voting rights shall not be exercised and dividends shall not be payable on treasury shares, and except where otherwise stated, treasury shares shall not be treated as issued shares within the meaning of this Act.
Procedure to Follow
1. Applicant may purchase a set of Limited Liability Forms from the in-house bank or via download
2. Provide Consent letter from certified auditor by the Institute of Chartered Auditors and must be registered as a Sole Proprietor/Partnership
3. Form 3 must be witnessed by Commissioner for Oaths/Notary Public/Self-Declared
4. A minimum of two directors is required. Each must submit Statutory Declaration & Consent Letter with the registion Form
5. Submit filled forms at the Company Registration Counter for Verification and Capturing or via Online
6. Pay two hundred and thirty Ghanaian Cedi (GHS 230) for Incorporation or via Online Also Filing fee of Fifty Ghanaian Cedi (GHS 50) and 0.5% stamp duty on stated capital at the in-house bank or via Online Registrar Examines, Approves & Issues : Certificate of Incorporation Certified Copy(CTC) of Standard/Registered Constitution of the Company Certified Copy(CTC) of Form 3 File Annual Returns at Fifty Ghanaian Cedi(GHS 50) together with Audited Account
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Responsible Institution
- Email: info@rgd.gov.gh
- Website: https://www.rgd.gov.gh
- GPS: GA-143-4647
- Telephone: +233 302 664 691-93
Relevant Forms to Download
Online System
Link Unavailable
Fees/ charges
Not Avaiable
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