Duties of the promoters:
The main duties of the promoters are summarized as follows:
1- To conceive the idea of floating the company.
2- To find out suitable persons who may sign the memorandum of association and are also willing to act as the first detectors of the company.
3- To select suitable names of the company and settle the amount and form of its capital, the kinds of shares to be issued the rights of various shareholders, etc. etc.
4- To select the bank where the account of the company is to be kept and also the auditors, legal advisers and brokers for the company.
5- To prepare a draft of the memorandum of association and prospect of the company and get it printed.
6- To submit to the registrar of joint stock companies all the documents required for the incorporation of the company.
7- To arrange for advertisement of prospect of the company in the newspaper.
8- To meet all the preliminary expenses for the forming or floating of the company.
9- To disclose fully all the material facts relating to the information of the company.
10- To arrange for the completion of the contracts with vendors managing agents and underwrites.
11- To receive remuneration from the vendors in the form of a commission on the sold property or get founder's shares fully paid up for the services rendered by them to the company.
The main duties of the promoters are summarized as follows:
1- To conceive the idea of floating the company.
2- To find out suitable persons who may sign the memorandum of association and are also willing to act as the first detectors of the company.
3- To select suitable names of the company and settle the amount and form of its capital, the kinds of shares to be issued the rights of various shareholders, etc. etc.
4- To select the bank where the account of the company is to be kept and also the auditors, legal advisers and brokers for the company.
5- To prepare a draft of the memorandum of association and prospect of the company and get it printed.
6- To submit to the registrar of joint stock companies all the documents required for the incorporation of the company.
7- To arrange for advertisement of prospect of the company in the newspaper.
8- To meet all the preliminary expenses for the forming or floating of the company.
9- To disclose fully all the material facts relating to the information of the company.
10- To arrange for the completion of the contracts with vendors managing agents and underwrites.
11- To receive remuneration from the vendors in the form of a commission on the sold property or get founder's shares fully paid up for the services rendered by them to the company.
