First Schedule (ss. 1, 10)
Tables
Table - A
Part I – Regulations for the management of companies limited by shares, not being a private company
Interpretation
1.In these regulations—(a)“Act” means the Companies Act;(b)“seal” means the common seal of the company;(c)“secretary” means any person appointed to perform the duties of the secretary of the company.Expressions referring to writing shall, unless the contrary intention appears, be construed as including references to printing, lithography, photography and other modes of representing or reproducing words in a visible form.Unless the context otherwise requires, words or expressions contained in these regulations shall bear the same meaning as in the Act or any statutory modification thereof in force at the date at which these regulations become binding on the company.Share capital and variation of rights
2.Without prejudice to any special rights previously conferred on the holders of any existing shares or class of shares, any share in the company may be issued with such preferred, deferred or other special rights or such restrictions, whether in regard to dividend, voting, return of capital or otherwise, as the company may from time to time by ordinary resolution determine.3.Subject to section 60 of the Act, any preference shares may, with the sanction of an ordinary resolution, be issued on the terms that they are, or at the option of the company are liable, to be redeemed on such terms and in such manner as the company before the issue of the shares may by special resolution determine.4.If at any time the share capital is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that class) may, whether or not the company is being wound up, be varied with the consent in writing of the holders of three-fourths of the issued shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class. To every such separate general meeting the provisions of these regulations relating to general meetings shall apply, but so that the necessary quorum shall be two persons at least holding or representing by proxy one-third of the issued shares of the class and that any holder of shares of the class present in person or by proxy may demand a poll.5.The rights conferred upon the holders of the shares of any class issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation or issue of further shares ranking pari passu therewith.6.The company may exercise the powers of paying commissions conferred by section 55 of the Act, provided that the rate percent or the amount of the commission paid or agreed to be paid shall be disclosed in the manner required by that section and the rate of the commission shall not exceed the rate of 10 percent of the price at which the shares in respect of which the commission is paid are issued or an amount equal to 10 percent of such price, as the case may be. Such commission may be satisfied by the payment of cash or the allotment of fully or partly paid shares or partly in one way and partly in the other. The company may also on any issue of shares pay such brokerage as may be lawful.7.Except as required by law, no person shall be recognised by the company as holding any share upon any trust, and the company shall not be bound by or be compelled in any way to recognise (even when having notice thereof) any equitable, contingent, future or partial interest in any share or any interest in any fractional part of a share or (except only as by these regulations or by law otherwise provided) any other rights in respect of any share except an absolute right to the entirety thereof in the registered holder.8.Every person whose name is entered as a member in the register of members shall be entitled without payment to receive within two months after allotment or lodgment of transfer (or within such other period as the conditions of issue shall provide) one certificate for all his or her shares or several certificates each for one or more of his or her shares upon payment of two shillings and fifty cents for every certificate after the first or such lesser sum as the directors shall from time to time determine. Every certificate shall be under the seal and shall specify the shares to which it relates and the amount paid-up thereon. Provided that in respect of a share held jointly by several persons, the company shall not be bound to issue more than one certificate, and delivery of a certificate for a share to one of several joint holders shall be sufficient delivery to all such holders.9.If a share certificate is defaced, lost or destroyed, it may be renewed on payment of a fee of two shillings and fifty cents or such lesser sum and on such terms, if any, as to evidence and indemnity and the payment of out-of-pocket expenses of the company of investigating evidence as the directors think fit.10.The company shall not give, whether directly or indirectly, and whether by means of a loan, guarantee, the provision of security or otherwise, any financial assistance for the purpose of or in connection with a purchase or subscription made or to be made by any person of or for any shares in the company or in its holding company nor shall the company make a loan for any purpose on the security of its shares or those of its holding company, but nothing in this regulation shall prohibit transactions mentioned in the proviso to section 56(1) of the Act.Lien
11.The company shall have a first and paramount lien on every share (not being a fully paid share) for all monies (whether presently payable or not) called or payable at a fixed time in respect of that share, and the company shall also have a first and paramount lien on all shares (other than fully paid shares) standing registered in the name of a single person for all monies presently payable by him or her or his or her estate to the company; but the directors may at any time declare any share to be wholly or in part exempt from the provisions of this regulation. The company’s lien, if any, on a share shall extend to all dividends payable thereon.12.The company may sell, in such manner as the directors think fit, any shares on which the company has a lien, but no sale shall be made unless a sum in respect of which the lien exists is presently payable, nor until the expiration of fourteen days after a notice in writing, stating and demanding payment of such part of the amount in respect of which the lien exists as is presently payable, has been given to the registered holder for the time being of the share, or the person entitled to the share by reason of his or her death or bankruptcy.13.To give effect to any such sale, the directors may authorise some person to transfer the shares sold to the purchaser of the shares. The purchaser shall be registered as the holder of the shares comprised in any such transfer, and he or she shall not be bound to see to the application of the purchase money, nor shall his or her title to the shares be affected by any irregularity or invalidity in the proceedings in reference to the sale.14.The proceeds of the sale shall be received by the company and applied in payment of such part of the amount in respect of which the lien exists as is presently payable, and the residue, if any, shall (subject to a like lien for sums not presently payable as existed upon the shares before the sale) be paid to the person entitled to the shares at the date of the sale.Calls on shares
15.The directors may from time to time make calls upon the members in respect of any monies unpaid on their shares (whether on account of the nominal value of the shares or by way of premium) and not by the conditions of allotment thereof made payable at fixed times, provided that no call shall exceed one-fourth of the nominal value of the share or be payable at less than one month from the date fixed for the payment of the last preceding call, and each member shall (subject to receiving at least fourteen days’ notice specifying the time and place of payment) pay to the company at the time and place so specified the amount called on his or her shares. A call may be revoked or postponed as the directors may determine.16.A call shall be deemed to have been made at the time when the resolution of the directors authorising the call was passed and may be required to be paid by installments.17.The joint holders of a share shall be jointly and severally liable to pay all calls in respect of the share.18.If a sum called in respect of a share is not paid before or on the day appointed for its payment, the person from whom the sum is due shall pay interest on the sum from the day appointed for payment of the sum to the time of actual payment at such rate not exceeding 5 percent per year as the directors may determine, but the directors shall be at liberty to waive payment of such interest wholly or in part.19.Any sum which by the terms of issue of a share becomes payable on allotment or at any fixed date, whether on account of the nominal value of the share or by way of premium, shall for the purposes of these regulations be deemed to be a call duly made and payable on the date on which by the terms of issue the same becomes payable, and in case of nonpayment all the relevant provisions of these regulations as to payment of interest and expenses, forfeiture or otherwise shall apply as if such sum had become payable by virtue of a call duly made and notified.20.The directors may, on the issue of shares, differentiate between the holders as to the amount of calls to be paid and the times of payment.21.The directors may, if they think fit, receive from any member willing to advance the same, all or any part of the monies uncalled and unpaid-upon any shares held by him or her, and upon all or any of the monies so advanced may (until the same would, but for such advance, become payable) pay interest at such rate not exceeding (unless the company in general meeting shall otherwise direct) 6 percent per year, as may be agreed upon between the directors and the member paying such sum in advance.Transfer of shares
22.The instrument of transfer of any share shall be executed by or on behalf of the transferor and transferee, and the transferor shall be deemed to remain a holder of the share until the name of the transferee is entered in the register of members in respect of the share.23.Subject to such of the restrictions of these regulations as may be applicable, any member may transfer all or any of his or her shares by instrument in writing in any usual or common form or any other form which the directors may approve.24.The directors may decline to register the transfer of a share (not being a fully paid share) to a person of whom they shall not approve, and they may also decline to register the transfer of a share on which the company has a lien.25.The directors may also decline to recognise any instrument of transfer unless—(a)a fee of two shillings and fifty cents or such lesser sum as the directors may from time to time require is paid to the company in respect of the instrument;(b)the instrument of transfer is accompanied by the certificate of the shares to which it relates, and such other evidence as the directors may reasonably require to show the right of the transferor to make the transfer; and(c)the instrument of transfer is in respect of only one class of share.26.If the directors refuse to register a transfer, they shall within sixty days after the date on which the transfer was lodged with the company send to the transferee notice of the refusal.27.The registration of transfers may be suspended at such times and for such periods as the directors may from time to time determine, provided always that such registration shall not be suspended for more than thirty days in any year.28.The company shall be entitled to charge a fee not exceeding two shillings and fifty cents on the registration of every probate, letters of administration, certificate of death or marriage, power of attorney, notice in lieu of distringas, or other instrument.Transmission of shares
29.In case of the death of a member, the survivor or survivors where the deceased was a joint holder, and the personal representatives of the deceased where he or she was a sole holder, shall be the only persons recognised by the company as having any title to his or her interest in the shares; but nothing herein contained shall release the estate of a deceased joint holder from any liability in respect of any share which had been jointly held by him or her with other persons.30.Any person becoming entitled to a share in consequence of the death or bankruptcy of a member may, upon such evidence being produced as may from time to time properly be required by the directors and subject as hereafter provided, elect either to be registered himself or herself as holder of the share or to have some person nominated by him or her registered as the transferee thereof, but the directors shall, in either case, have the same right to decline or suspend registration as they would have had in the case of a transfer of the share by that member before his or her death or bankruptcy, as the case may be.31.If the person so becoming entitled shall elect to be registered himself or herself, he or she shall deliver or send to the company a notice in writing signed by him or her stating that he or she so elects. If he or she shall elect to have another person registered, he or she shall testify his or her election by executing to that person a transfer of the share. All the limitations, restrictions and provisions of these regulations relating to the right to transfer and the registration of transfers of shares shall be applicable to any such notice or transfer as aforesaid as if the death or bankruptcy of the member had not occurred and the notice or transfer were a transfer signed by that member.32.A person becoming entitled to a share by reason of the death or bankruptcy of the holder shall be entitled to the same dividends and other advantages to which he or she would be entitled if he or she were the registered holder of the share, except that he or she shall not, before being registered as a member in respect of the share, be entitled in respect of it to exercise any right conferred by membership in relation to meetings of the company; but the directors may at any time give notice requiring any such person to elect either to be registered himself or herself or to transfer the share, and if the notice is not complied with within ninety days, the directors may thereafter withhold payment of all dividends, bonuses or other monies payable in respect of the share until the requirements of the notice have been complied with.Forfeiture of shares
33.If a member fails to pay any call or installment of a call on the day appointed for payment thereof, the directors may, at any time thereafter during such time as any part of the call or installment remains unpaid, serve a notice on him or her requiring payment of so much of the call or installment as is unpaid, together with any interest which may have accrued.34.The notice shall name a further day (not earlier than the expiration of fourteen days from the date of service of the notice) on or before which the payment required by the notice is to be made, and shall state that in the event of nonpayment at or before the time appointed the shares in respect of which the call was made will be liable to be forfeited.35.If the requirements of any such notice as aforesaid are not complied with, any share in respect of which the notice has been given may at any time thereafter, before the payment required by the notice has been made, be forfeited by a resolution of the directors to that effect.36.A forfeited share may be sold or otherwise disposed of on such terms and in such manner as the directors think fit, and at any time before a sale or disposition, the forfeiture may be cancelled on such terms as the directors think fit.37.A person whose shares have been forfeited shall cease to be a member in respect of the forfeited shares, but shall, notwithstanding, remain liable to pay to the company all monies which, at the date of forfeiture, were payable by him or her to the company in respect of the shares, but his or her liability shall cease if and when the company shall have received payment in full of all such monies in respect of the shares.38.A statutory declaration in writing that the declarant is a director or the secretary of the company, and that a share in the company has been duly forfeited on a date stated in the declaration, shall be conclusive evidence of the facts therein stated as against all persons claiming to be entitled to the share. The company may receive the consideration, if any, given for the share on any sale or disposition thereof and may execute a transfer of the share in favour of the person to whom the share is sold or disposed of and he or she shall thereupon be registered as the holder of the share, and shall not be bound to see to the application of the purchase money, if any, nor shall his or her title to the share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or disposal of the share.39.The provisions of these regulations as to forfeiture shall apply in the case of nonpayment of any sum which, by the terms of issue of a share, becomes payable at a fixed time, whether on account of the nominal value of the share or by way of premium, as if the same had been payable by virtue of a call duly made and notified.Conversion of shares into stock
40.The company may by ordinary resolution convert any paid-up shares into stock, and reconvert any stock into paid-up shares of any denomination.41.The holders of stock may transfer the stock, or any part of it, in the same manner, and subject to the same regulations, as and subject to which the shares from which the stock arose might previously to conversion have been transferred, or as near thereto as circumstances admit; and the directors may from time to time fix the minimum amount of stock transferable but so that such minimum shall not exceed the nominal amount of the shares from which the stock arose.42.The holders of stock shall, according to the amount of stock held by them, have the same rights, privileges and advantages as regards dividends, voting at meetings of the company and other matters as if they held the shares from which the stock arose, but no such privilege or advantage (except participation in the dividends and profits of the company and in the assets on winding up) shall be conferred by an amount of stock which would not, if existing in shares, have conferred that privilege or advantage.43.Such of the regulations of the company as are applicable to paid-up shares shall apply to stock, and the words “share” and “shareholder” therein shall include “stock” and “stockholder”.Alteration of capital
44.The company may from time to time by ordinary resolution increase the share capital by such sum, to be divided into shares of such amount, as the resolution shall prescribe.45.The company may by ordinary resolution—(a)consolidate and divide all or any of its share capital into shares of larger amount than its existing shares;(b)subdivide its existing shares, or any of them, into shares of smaller amount than is fixed by the memorandum of association subject, nevertheless, to the provisions of section 63(1)(d) of the Act;(c)cancel any shares which, at the date of the passing of the resolution, have not been taken or agreed to be taken by any person.46.The company may by special resolution reduce its share capital, any capital redemption reserve fund or any share premium account in any manner and with, and subject to, any incident authorised, and consent required, by law.General meetings
47.The company shall in each year hold a general meeting as its annual general meeting in addition to any other meetings in that year, and shall specify the meeting as such in the notices calling it; and not more than fifteen months shall elapse between the date of one annual general meeting of the company and that of the next; except that so long as the company holds its first annual general meeting within eighteen months of its incorporation, it need not hold it in the year of its incorporation or in the following year. The annual general meeting shall be held at such time and place as the directors shall appoint.48.All general meetings other than annual general meetings shall be called extraordinary general meetings.49.The directors may, whenever they think fit, convene an extraordinary general meeting, and extraordinary general meetings shall also be convened on such requisition, or, in default, may be convened by such requisitionists, as provided by section 132 of the Act. If at any time there are not within Uganda sufficient directors capable of acting to form a quorum, any director or any two members of the company may convene an extraordinary general meeting in the same manner as nearly as possible as that in which meetings may be convened by the directors.Notice of general meetings
50.(1)Every general meeting shall be called by twenty-one days’ notice in writing at the least. The notice shall be exclusive of the day on which it is served or deemed to be served and of the day for which it is given, and shall specify the place, the day and the hour of meeting and, in case of special business, the general nature of that business, and shall be given, in the manner hereafter mentioned or in such other manner, if any, as may be prescribed by the company in general meeting, to such persons as are, under the regulations of the company, entitled to receive such notices from the company.(2)A meeting of the company shall, notwithstanding that it is called by shorter notice than that specified in subregulation (1), be deemed to have been duly called if it is so agreed—(a)in the case of a meeting called as the annual general meeting, by all the members entitled to attend and vote at the meeting; and(b)in the case of any other meeting, by a majority in number of the members having a right to attend and vote at the meeting, being a majority together holding not less than 95 percent in nominal value of the shares giving that right.51.The accidental omission to give notice of a meeting to, or the nonreceipt of notice of a meeting by, any person entitled to receive notice shall not invalidate the proceedings at that meeting.Proceedings at general meetings
52.All business shall be deemed special that is transacted at an extraordinary general meeting, and also all that is transacted at an annual general meeting, with the exception of declaring a dividend, the consideration of the accounts, balance sheets, and the reports of the directors and auditors, the election of directors in the place of those retiring and the appointment of, and the fixing of the remuneration of, the auditors.53.No business shall be transacted at any general meeting unless a quorum of members is present at the time when the meeting proceeds to business; except as herein otherwise provided, three members present in person shall be a quorum.54.If within half an hour from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of members, shall be dissolved; in any other case, it shall stand adjourned to the same day in the next week, at the same time and place or to such other day and at such other time and place as the directors may determine, and if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the members present shall be a quorum.55.The chairperson, if any, of the board of directors shall preside as chairperson at every general meeting of the company, or if there is no such chairperson, or if he or she shall not be present within fifteen minutes after the time appointed for the holding of the meeting or is unwilling to act, the directors present shall elect one of their number to be chairperson of the meeting.56.If at any meeting no director is willing to act as chairperson or if no director is present within fifteen minutes after the time appointed for holding the meeting, the members present shall choose one of their number to be chairperson of the meeting.57.The chairperson may, with the consent of any meeting at which a quorum is present (and shall if so directed by the meeting), adjourn the meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a meeting is adjourned for thirty days or more, notice of the adjourned meeting shall be given as in the case of an original meeting. Except as provided in this regulation, it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting.58.At any general meeting a resolution put to the vote of the meeting shall be decided on a show of hands unless a poll is (before or on the declaration of the result of the show of hands) demanded—(b)by at least three members present in person or by proxy;(c)by any member or members present in person or by proxy and representing not less one-tenth of the total voting rights of all members having the right to vote at the meeting; or(d)by a member or members holding shares in the company conferring a right to vote at the meeting being shares on which an aggregate sum has been paid-up equal to not less than one-tenth of the total sum paid-up on all the shares conferring that right.Unless a poll is so demanded, a declaration by the chairperson that a resolution has on a show of hands been carried or carried unanimously, or by a particular majority, or lost, an entry to that effect in the book containing the minutes of the proceedings of the company shall be conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against such resolution.The demand for a poll may be withdrawn
59.Except as provided in regulation 61, if a poll is duly demanded it shall be taken in such manner as the chairperson directs, and the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded.60.In the case of an equality of votes, whether of a show of hands or on a poll, the chairperson of the meeting at which the show of hands takes place or at which the poll is demanded, shall be entitled to a second or casting vote.61.A poll demanded on the election of a chairperson or on a question of adjournment shall be taken forthwith. A poll demanded on any other question shall be taken at such time as the chairperson of the meeting directs, and any business other than that upon which a poll has been demanded may be proceeded with pending the taking of the poll.Votes of members
62.Subject to any rights or restrictions for the time being attached to any class or classes of shares, on a show of hands every member present in person shall have one vote, and on a poll every member shall have one vote for each share of which he or she is the holder.63.In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders; and for this purpose, seniority shall be determined by the order in which the names stand in the register of members.64.A member of unsound mind in respect of whose estate a manager has been appointed under the law relating to the administration of estates of persons of unsound mind may vote, whether on a show of hands or on a poll, by his or her manager, and any such manager may, on a poll, vote by proxy.65.No member shall be entitled to vote at any general meeting unless all calls or other sums presently payable by him or her in respect of shares in the company have been paid.66.No member shall be entitled to vote at any general meeting unless at the meeting or adjourned meeting at which the vote objected to is given or tendered, and every vote not disallowed at such meeting shall be valid for all purposes. Any such objection made in due time shall be referred to the chairperson of the meeting, whose decision shall be final and conclusive.67.On a poll votes may be given either personally or by proxy.68.The instrument appointing a proxy shall be in writing under the hand of the appointer or of his or her attorney duly authorised in writing, or, if the appointer is a corporation, either under seal, or under the hand of an officer or attorney duly authorised. A proxy need not be a member of the company.69.The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority shall be deposited at the registered office of the company or at such other place within Uganda as is specified for that purpose in the notice convening the meeting, not less than forty-eight hours before the time for holding the meeting or adjourned meeting, at which the person named in the instrument proposes to vote or, in the case of a poll, not less than twenty-four hours before the time appointed for the taking of the poll, and in default the instrument of proxy shall not be treated as valid.70.An instrument appointing a proxy shall be in the following form or a form as near to it as circumstances admit—_____________________________________ Limited.I/We, ______________________________________________________, of _________________________________, being a member/members of the above-named company, appoint _____________________________________________ of ____________________________________________, or failing him/her, __________________________ of __________________________, as my/our proxy to vote for me/us on my/our behalf at the annual (or extraordinary) general meeting of the company to be held on the _____day of __________________, 20. ____, and at any adjournment of that meeting.Signed this ______ day of _________________, 20___.71.Where it is desired to afford members an opportunity of voting for or against a resolution, the instrument appointing a proxy shall be in the following form or a form as near to it as circumstances admit—_________________________________________________________ Limited.I/We, ______________________________________________________, of _________________________________, being a member/members of the above-named company, appoint _____________________________________________ of ____________________________________________, or failing him/her, __________________________ of __________________________, as my/our proxy to vote for me/us on my/our behalf at the annual (or extraordinary) general meeting of the company to be held on the _____day of __________________, 20. ____, and at any adjournment of that meeting.Signed this ______ day of _________________, 20___.This form is to be used *in favour of/against the resolution. Unless otherwise instructed, the proxy will vote as he/she thinks fit.*Strike out whichever is not desired.72.The instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding a poll.73.A vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding the previous death or insanity of the principal or revocation of the proxy or of the authority under which the proxy was executed, or the transfer of the share in respect of which the proxy is given, if no intimation in writing of such death, insanity, revocation or transfer as aforesaid shall have been received by the company at the office before the commencement of the meeting or adjourned meeting at which the proxy is used.Corporations acting by representatives at meetings
74.Any corporation which is a member of the company may by resolution of its directors or other governing body authorise such person as it thinks fit to act as its representative at any meeting of the company or of any class of members of the company, and the person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he or she represents as that corporation could exercise if it were an individual member of the company.Directors
75.The number of the directors and the names of the first directors shall be determined in writing by the subscribers of the memorandum of association or a majority of them and until such determination, the signatories to the memorandum of association shall be the first directors.76.The remuneration of the directors shall from time to time be determined by the company in general meeting. Such remuneration shall be deemed to accrue from day to day. The directors may also be paid all travelling, hotel and other expenses properly incurred by them in attending and returning from meetings of the directors or any committee of the directors or general meetings of the company or in connection with the business of the company.77.The shareholding qualification for directors may be fixed by the company in general meeting, and until so fixed no qualification shall be required.78.A director of the company may be or become a director or other officer of, or otherwise interested in, any company promoted by the company or in which the company may be interested as shareholder or otherwise, and no such director shall be accountable to the company for any remuneration or other benefits received by him or her as a director or officer of, or from his or her interest in, such other company unless the company otherwise directs.Borrowing powers
79.(1)The directors may exercise all the powers of the company to borrow money, and to mortgage or charge its undertaking, property and uncalled capital, or any part thereof, and to issue debentures, debenture stock, and other securities whether outright or as security for any debt, liability or obligation of the company or of any third party; except that the amount for the time being remaining undischarged of monies borrowed or secured by the directors as aforesaid (apart from temporary loans obtained from the company’s bankers in the ordinary course of business) shall not at any time, without the previous sanction of the company in general meeting, exceed the nominal amount of the share capital of the company for the time being issued; but, nevertheless, no lender or other person dealing with the company shall be concerned to see or inquire whether this limit is observed.(2)No debt incurred or security given in excess of such limit shall be invalid or ineffectual except in the case of express notice to the lender or the recipient of the security at the time when the debt was incurred or security given that the limit imposed by subregulation (1) had been or was thereby exceeded.Powers and duties of directors
80.The business of the company shall be managed by the directors, who may pay all expenses incurred in promoting and registering the company, and may exercise all such powers of the company as are not, by the Act or by these regulations, required to be exercised by the company in general meeting, subject, nevertheless, to any of these regulations, to the provisions of the Act and to such regulations, being not inconsistent with the aforesaid regulations or provisions, as may be prescribed by the company in general meeting, but no regulation made by the company in general meeting shall invalidate any prior act of the directors which would have been valid if that regulation had not been made.81.The directors may from time to time and at any time by power of attorney appoint any company, firm or person or body of persons, whether nominated directly or indirectly by the directors, to be the attorney or attorneys of the company for such purposes and such powers, authorities and discretions (not exceeding those vested in or exercisable by the directors under these regulations) and for such period and subject to such conditions as they may think fit, and any such powers of attorney may contain such provisions for the protection and convenience of persons dealing with any such attorney as the directors may think fit and may also authorise any such attorney to delegate all or any of the powers, authorities and discretions vested in him or her.82.The company may exercise the powers conferred by section 36 of the Act with regard to having an official seal for use abroad, and such powers shall be vested in the directors.83.The company may exercise the powers conferred upon the company by sections 121 to 124 (both inclusive) of the Act with regard to the keeping of a branch register, and the directors may (subject to the provisions of those sections) make and vary such regulations as they may think fit respecting the keeping of any such register.84.(1)A director who is in any way, whether directly or indirectly, interested in a contract or proposed contract with the company shall declare the nature of his or her interest at a meeting of the directors in accordance with section 200 of the Act.(2)A director shall not vote in respect of any contract or arrangement in which he or she is interested, and if he or she shall do so, his or her vote shall not be counted, nor shall he or she be counted in the quorum present at the meeting, but neither of these prohibitions shall apply to—(a)any arrangement for giving any director any security or indemnity in respect of money lent by him or her to or obligations undertaken by him or her for the benefit of the company;(b)any arrangement for the giving by the company of any security to a third party in respect of a debt or obligation of the company for which the director himself or herself has assumed responsibility in whole or in part under a guarantee or indemnity or by the deposit of a security;(c)any contract by a director to subscribe for or underwrite shares or debentures of the company; or(d)any contract or arrangement with any other company in which he or she is interested only as an officer of the company or as holder of shares or other securities,and these prohibitions may at any time be suspended or relaxed to any extent, and either generally or in respect of any particular contract, arrangement or transaction, by the company in general meeting.(3)A director may hold any other office or place of profit under the company (other than the office of auditor) in conjunction with his or her office of director for such period and on such terms (as to remuneration and otherwise) as the directors may determine, and no director or intending director shall be disqualified by his or her office from contracting with the company either with regard to his or her tenure of any such other office or place of profit or as vendor, purchaser or otherwise, nor shall any such contract, or any contract or arrangement entered into by or on behalf of the company in which any director is in any way interested, be liable to be avoided, nor shall any director so contracting or being so interested be liable to account to the company for any profit realised by any such contract or arrangement by reason of the director holding that office or of the fiduciary relation thereby established.(4)A director, notwithstanding his or her interest, may be counted in the quorum present at any meeting at which he or she or any other director is appointed to hold any such office or place of profit under the company or at which the terms of any such appointment are arranged, and he or she may vote on any such appointment or arrangement other than his or her own appointment or the arrangement of the terms of that appointment.(5)Any director may act by himself or herself or his or her firm in a professional capacity for the company, and he or she or his or her firm shall be entitled to remuneration for professional services as if he or she were not a director; but nothing in this subregulation shall authorise a director or his or her firm to act as auditor to the company.85.All cheques, promissory notes, drafts, bills of exchange and other negotiable instruments, and all receipts for monies paid to the company, shall be signed, drawn, accepted, endorsed or otherwise executed, as the case may be, in such manner as the director shall from time to time by resolution determine.86.The directors shall cause minutes to be made in books provided for the purpose—(a)of all appointments of officers made by the directors;(b)of the names of the directors present at each meeting of the directors and of any committee of the directors;(c)of all resolutions and proceedings at each meeting of the company, and of the directors, and of committees of directors,and every director present at any meeting of directors or committee of directors shall sign his or her name in a book to be kept for that purpose.87.The directors on behalf of the company may pay a gratuity or pension or allowance on retirement to any director who has held any other salaried office or place of profit with the company or to his or her widow or dependents and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension or allowance.Disqualification of directors
88.The office of director shall be vacated if the director—(a)ceases to be a director by virtue of section 183 or 186 of the Act;(b)becomes bankrupt or makes any arrangement or composition with his or her creditors generally;(c)becomes prohibited from being a director by reason of any order made under section 189 of the Act;(d)becomes of unsound mind;(e)resigns his or her office by notice in writing to the company; or(f)shall for more than six months have been absent without permission of the directors from meetings of the directors held during that period.Rotation of directors
89.At the first annual general meeting of the company, all the directors shall retire from office; and at the annual general meeting in every subsequent year, one-third of the directors for the time being, or, if their number is not three or a multiple of three, then the number nearest one-third, shall retire from office.90.The directors to retire in every year shall be those who have been longest in office since their last election, but as between persons who became directors on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot.91.A retiring director shall be eligible for reelection.92.The company at the meeting at which a director retired in the manner provided in regulations 89 and 90 may fill the vacated office by electing a person to it, and in default the retiring director shall if offering himself or herself for reelection be deemed to have been reelected, unless at such meeting it is expressly resolved not to fill such vacated office or unless a resolution for the reelection of such director shall have been put to the meeting and lost.93.No person other than a director retiring at the meeting shall unless recommended by the directors be eligible for election to the office of director at any general meeting unless not less than three nor more than twenty-one days before the date appointed for the meeting there shall have been left at the registered office of the company notice in writing signed by a member duly qualified to attend and vote at the meeting for which such notice is given, of his or her intention to propose such person for election, and also notice in writing signed by that person of his or her willingness to be elected.94.The company may from time to time by ordinary resolution increase or reduce the number of directors, and may also determine by what rotation the increased or reduced number is to go out of office.95.The directors shall have power at any time, and from time to time, to appoint any person to be a director, either to fill a casual vacancy or as an addition to the existing directors, but so that the total number of directors shall not at any time exceed the number fixed in accordance with these regulations. Any director so appointed shall hold office only until the next following annual general meeting, and shall then be eligible for reelection but shall not be taken into account in determining the directors who are to retire by rotation at such meeting.96.The company may by ordinary resolution, of which special notice has been given in accordance with section 142 of the Act, remove any director before the expiration of his or her period of office notwithstanding anything in these regulations or in any agreement between the company and such director. Such removal shall be without prejudice to any claim such director may have for damages for breach of any contract of service between him or her and the company.97.The company may by ordinary resolution appoint another person in place of a director removed from office under regulation 96, and without prejudice to the powers of the directors under regulation 95, the company in general meeting may appoint any person to be a director either to fill a casual vacancy or as an additional director. A person appointed in place of a director so removed or to fill such a vacancy shall be subject to retirement at the same time as if he or she had become a director on the day on which the director in whose place he or she is appointed was last elected a director.Proceedings of directors
98.The directors may meet together for the dispatch of business, adjourn, and otherwise regulate their meetings, as they think fit. Questions rising at any meeting shall be decided by a majority of votes. In case of an equality of votes, the chairperson shall have a second or casting vote. A director may, and the secretary on the requisition of a director shall, at any time summon a meeting of the directors. It shall not be necessary to give notice of a meeting of directors to any director for the time being absent from Uganda.99.The quorum necessary for the transaction of the business of the directors may be fixed by the directors, and unless so fixed shall be two.100.The continuing directors may act notwithstanding any vacancy in their body, but, if and so long as their number is reduced below the number fixed by or pursuant to the regulations of the company as the necessary quorum of directors, the continuing directors or director may act for the purpose of increasing the number of directors to that number, or of summoning a general meeting of the company, but for no other purpose.101.The directors may elect a chairperson of their meetings and determine the period for which he or she is to hold office; but if no such chairperson is elected, or if at any meeting the chairperson is not present within five minutes after the time appointed for holding the meeting, the directors present may choose one of their number to be a chairperson of the meeting.102.The directors may delegate any of their powers to committees consisting of such member or members of their body as they think fit; any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the directors.103.A committee may elect a chairperson of its meetings; if no such chairperson is elected, or if at any meeting the chairperson is not present within five minutes after the time appointed for holding the same, the members present may choose one of their number to be chairperson of the meeting.104.A committee may meet and adjourn as it thinks proper. Questions arising at any meeting shall be determined by a majority of votes of the members present, and in the case of an equality of votes, the chairperson shall have a second or casting vote.105.All acts done by any meeting of the directors or of a committee of directors or by any person acting as a director shall, notwithstanding that it be afterwards discovered that there was some defect in the appointment of any such director or person acting as aforesaid, or that they or any of them were disqualified, be as valid as if every such person had been duly appointed and was qualified to be a director.106.A resolution in writing, signed by all the directors for the time being entitled to receive notice of a meeting of the directors, shall be as valid and effectual as if it had been passed at a meeting of the directors duly convened and held.Managing director
107.The directors may from time to time appoint one or more of their body to the office of managing director for such period and on such terms as they think fit, and, subject to the terms of any agreement entered into in any particular case, may revoke such appointment. A director so appointed shall not, while holding that office, be subject to retirement by rotation or be taken into account in determining the rotation of retirement of directors, but his or her appointment shall be automatically determined if he or she ceases from any cause to be a director.108.A managing director shall receive such remuneration (whether by way of salary, commission or participation in profits, or partly in one way and partly in another) as the directors may determine.109.The directors may entrust to and confer upon a managing director any of the powers exercisable by them upon such terms and conditions and with such restrictions as they may think fit, and either collaterally with or to the exclusion of their own powers and may from time to time revoke, withdraw, alter or vary all or any of such powers.Secretary
110.The secretary shall be appointed by the directors for such term, at such remuneration and upon such conditions as they may think fit; and any secretary so appointed may be removed by them.111.No person shall be appointed or hold office as secretary who is—(a)the sole director of the company;(b)a corporation the sole director of which is the sole director of the company; or(c)the sole director of a corporation which is the sole director of the company.112.A provision of the Act or these regulations requiring or authorising a thing to be done by or to a director and the secretary shall not be satisfied by its being done by or to the same person acting both as director and as, or in place of, the secretary.The seal
113.The directors shall provide for the safe custody of the seal, which shall only be used by the authority of the directors or of a committee of the directors authorised by the directors in that behalf, and every instrument to which the seal shall be affixed shall be signed by a director and shall be countersigned by the secretary or by a second director or by some other person appointed by the directors for the purpose.Dividends and reserve
114.The company in general meeting may declare dividends, but no dividend shall exceed the amount recommended by the directors.115.The directors may from time to time pay to the members such interim dividends as appear to the directors to be justified by the profits of the company.116.No dividend shall be paid otherwise than out of profits.117.The directors may, before recommending any dividend, set aside out of the profits of the company such sums as they think proper as a reserve or reserves which shall, at the discretion of the directors, be applicable for any purpose to which the profits of the company may be properly applied, and pending such application may, at the like discretion either be employed in the business of the company or be invested in such investments (other than shares of the company) as the directors may from time to time think fit. The directors may also without placing the same to reserve carry forward any profits which they may think prudent not to divide.118.Subject to the rights of persons, if any, entitled to shares with special rights as to dividend, all dividends shall be declared and paid according to the amounts paid or credited as paid on the shares in respect of which the dividend is paid, but no amount paid or credited as paid on a share in advance of calls shall be treated for the purposes of this regulation as paid on the share. All dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions of the period in respect of which the dividend is paid; but if any share is issued on terms providing that it shall rank for dividend as from a particular date, such share shall rank for dividend accordingly.119.The directors may deduct from any dividend payable to any member all sums of money, if any, presently payable by him or her to the company on account of calls or otherwise in relation to the shares of the company.120.Any general meeting declaring a dividend or bonus may direct payment of that dividend or bonus wholly or partly by the distribution of specific assets and, in particular, of paid up shares, debentures or debenture stock of any other company or in any one or more of such ways, and the directors shall give effect to such resolution, and where any difficulty arises in regard to the distribution, the directors may settle it as they think expedient, and, in particular, may issue fractional certificates and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any members upon the footing of the value so fixed in order to adjust the rights of all parties, and may vest any such specific assets in trustees as may seem expedient to the directors.121.Any dividend, interest or other monies payable in cash in respect of shares may be paid by cheque or warrant sent through the post directed to the registered address of the holder or, in the case of joint holders, to the registered address of that one of the joint holders who is first named on the register of members or to such person and to such address as the holder or joint holders may in writing direct. Every such cheque or warrant shall be made payable to the order of the person to whom it is sent. Any one of two or more joint holders may give effectual receipts for any dividends, bonuses or other monies payable in respect of the shares held by them as joint holders.122.No dividend shall bear interest against the company.Accounts
123.The directors shall cause proper books of account to be kept with respect to—(a)all sums of money received and expended by the company and the matters in respect of which the receipt and expenditure takes place;(b)all sales and purchases of goods by the company; and(c)the assets and liabilities of the company.Proper books shall not be deemed to be kept if there are not kept such books of account as are necessary to give a true and fair view of the state of the company’s affairs and to explain its transactions.124.The books of account shall be kept at the registered office of the company, or, subject to section 147(3) of the Act, at such other place or places as the directors think fit, and shall always be open to the inspection of the directors.125.The directors shall from time to time determine whether and to what extent and at what times and places and under what conditions or regulations the accounts and books of the company or any of them shall be open to the inspection of members not being directors, and no member (not being a director) shall have any right of inspecting any account or book or document of the company except as conferred by statute or authorised by the directors or by the company in general meeting.126.The directors shall from time to time, in accordance with sections 148, 150 and 157 of the Act, cause to be prepared and to be laid before the company in general meeting such profit and loss accounts, balance sheets, group accounts, if any, and reports as are referred to in those sections.127.A copy of every balance sheet (including every document required by law to be annexed to it) which is to be laid before the company in general meeting, together with a copy of the auditors’ report, shall not less than twenty-one days before the date of the meeting be sent to every member of, and every holder of debentures of, the company and to every person registered under regulation 31; except that this regulation shall not require a copy of those documents to be sent to any person of whose address the company is not aware or to more than one of the joint holders of any shares or debentures.Capitalisation of profits
128.The company in general meeting may upon the recommendation of the directors resolve that it is desirable to capitalise any part of the amount for the time being standing to the credit of any of the company’s reserve accounts or to the credit of the profit and loss account or otherwise available for distribution, and, accordingly, that such sum be set free for distribution among the members who would have been entitled to it if distributed by way of dividend and in the same proportions on condition that the same be not paid in cash but be applied either in or towards paying up any amounts for the time unpaid on any shares held by such members respectively or paying up in full unissued shares or debentures of the company to be allotted and distributed credited as fully paid-up to and among such members in the proportion aforesaid, or partly in the one way and partly in the other, and the directors shall give effect to such resolution; except that a share premium account and a capital redemption reserve fund may, for the purposes of this regulation, only be applied in the paying up of unissued shares to be issued to members of the company as fully-paid bonus shares.129.Whenever such a resolution as provided in regulation 128 shall have been passed, the directors shall make all appropriations and applications of the undivided profits resolved to be capitalised thereby, and all allotments and issues of fully-paid shares or debentures, if any, and generally shall do all acts and things required to give effect thereto, with full power to the directors to make such provision by the issue of fractional certificates or by payment in cash or otherwise as they think fit for the case of shares or debentures becoming distributable in fractions, and also to authorise any person to enter on behalf of all the members entitled thereto into an agreement with the company providing for the allotment to them respectively, credited as fully paid-up, of any further shares or debentures to which they may be entitled upon such capitalisation, or (as the case may require) for the payment up by the company on their behalf, by the application thereto of their respective proportions of the profits resolved to be capitalised, of the amounts or any part of the amounts remaining unpaid on their existing shares, and any agreement made under such authority shall be effective and binding on all such members.Audit
130.Auditors shall be appointed and their duties regulated in accordance with sections 159 to 162 of the Act.Notices
131.A notice may be given by the company to any member either personally or by sending it by post to him or her or to his or her registered address, or (if he or she has no registered address within Uganda) to the address, if any, within Uganda supplied by him or her to the company for the giving of notice to him or her. Where a notice is sent by post, service of the notice shall be deemed to be effected by properly addressing, prepaying and posting a letter containing the notice, and to have been effected in the case of a notice of a meeting at the expiration of seventy-two hours after the letter containing the same is posted, and in any other case at the time at which the letter would be delivered in the ordinary course of post.132.A notice may be given by the company to the joint holders of a share by giving the notice to the joint holder first named in the register of members in respect of the share.133.A notice may be given by the company to the persons entitled to a share in consequence of the death or bankruptcy of a member by sending it through the post in a prepaid letter addressed to them by name, or by the title of representatives of the deceased, or trustee of the bankrupt, or by any like description, at the address, if any, within Uganda supplied for the purpose by the persons claiming to be so entitled, or (until such an address has been so supplied) by giving the notice in any manner in which the same might have been given if the death or bankruptcy had not occurred.134.Notice of every general meeting shall be given in any manner hereinbefore authorised to—(a)every member except those members who (having no registered address within Uganda) have not supplied to the company an address within Uganda for the giving of notices to them;(b)every person upon whom the ownership of a share devolves by reason of his or her being a personal representative or a trustee in bankruptcy of a member where the member but for his or her death or bankruptcy would be entitled to receive notice of the meeting; and(c)the auditor for the time being of the company.No other person shall be entitled to receive notices of general meetings.Winding up
135.If the company shall be wound up, the liquidator may, with the sanction of a special resolution of the company and any other sanction required by the Act, divide among the members in specie or kind the whole or any part of the assets of the company (whether they shall consist of property of the same kind or not) and may, for such purpose set such value as he or she deems fair upon any property to be divided as aforesaid and may determine how such division shall be carried out as between the members or different classes of members. The liquidator may, with the like sanction, vest the whole or any part of such assets in trustees upon such trust for the benefit of the contributories as the liquidator, with the like sanction, shall think fit, but so that no member shall be compelled to accept any shares or other securities whereon there is any liability.Indemnity
136.Every director, managing director, agent, auditor, secretary and other officer for the time being of the company shall be indemnified out of the assets of the company against any liability incurred by him or her in defending any proceedings, whether civil or criminal, in which judgment is given in his or her favour or in which he or she is acquitted or in connection with any application under section 405 of the Act in which relief is granted to him or her by the court.Part II – Regulations for the management of a private company limited by shares
1.The regulations contained in Part I of Table A (with the exception of regulations 24 and 53) shall apply.2.The company is a private company and accordingly—(a)the right to transfer shares is restricted in the manner hereafter prescribed;(b)the number of members of the company (exclusive of persons who are in the employment of the company and of persons who having been formerly in the employment of the company were while in such employment and have continued after the determination of such employment to be members of the company) is limited to fifty, except that where two or more persons hold one or more shares in the company jointly, they shall for the purpose of this regulation be treated as a single member;(c)any invitation to the public to subscribe for any shares or debentures of the company is prohibited;(d)the company shall not have power to issue share warrants to bearer.3.The directors may, in their absolute discretion and without assigning any reason therefor, decline to register any transfer of any share, whether or not it is a fully-paid share.4.No business shall be transacted at any general meeting unless a quorum of members is present at the time when the meeting proceeds to business; except as herein otherwise provided, two members present in person or by proxy shall be a quorum.5.Subject to the Act, a resolution in writing signed by all the members for the time being entitled to receive notice of and to attend and vote at general meetings (or being corporations by their duly authorised representatives) shall be as valid and effective as if the same had been passed at a general meeting of the company duly convened and heldTable B
Form of memorandum of association of a company limited by shares
1st. The name of the company is “The Lake Victoria Steam Packet Company, Limited.”2nd. The registered office of the company will be situate in Uganda.3rd. The objects for which the company is established are, “the conveyance of passengers and goods in ships or boats between such places as the company may from time to time determine, and doing all such other things as are incidental or conducive to the attainment of the above object.”4th. The liability of the members is limited.5th. The share capital of the company is two hundred thousand shillings divided into one thousand shares of two hundred shillings each.We, the several persons whose names and addresses are subscribed are desirous of being formed into a company, in pursuance of this memorandum of association, and we respectively agree to take the number of shares in the capital of the company set opposite our respective names.| Names, postal addresses and occupations of subscribers | Number of shares taken by each subscriber | Signatures of subscribers |
| 1. | | |
| 2. | | |
| 3. | | |
| 4. | | |
| 5. | | |
| 6. | | |
| 7. | | |
| Total shares taken |
Table C
Form of memorandum and articles of association of a company limited by guarantee, and not having a share capital
Part I – Memorandum of association
1st. The name of the company is “The Kampala School Association, Limited.”2nd. The registered office of the company will be situate in Uganda.3rd. The objects for which the company is established are carrying on a school for boys in the city of Kampala and doing all such other things as are incidental or conducive to the attainment of the above object.4th. The liability of the members is limited.5th. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while he or she is a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before he or she ceases to be a member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding two hundred shillings.We, the several persons whose names and addresses are subscribed, are desirous of being formed into a company, in pursuance of this memorandum of association.| Names, postal addresses and occupations of subscribers | Signatures of subscribers |
| 1. | |
| 2. | |
| 3. | |
| 4. | |
| 5. | |
| 6. | |
| 7. | |
Part II – Articles of association to accompany preceding memorandum of association
Interpretation
1.In these articles—(a)“Act” means the Companies Act;(b)“seal” means the common seal of the company;(c)“secretary” means any person appointed to perform the duties of the secretary of the company.Expressions referring to writing shall, unless the contrary intention appears, be construed as including references to printing, lithography, photography and other modes of representing or reproducing words in a visible form.Unless the context otherwise requires, words or expressions contained in these articles shall bear the same meaning as in the Act or any statutory modification thereof in force at the date at which these articles become binding on the company.Members
2.The number of members with which the company proposes to be registered is five hundred, but the directors may from time to time register an increase of members.3.The subscribers to the memorandum of association and such other persons as the directors shall admit to membership shall be members of the company.General meeting
4.The company shall in each year hold a general meeting as its annual general meeting in addition to any other meetings in that year, and shall specify the meeting as such in the notices calling it; and not more than fifteen months shall elapse between the date of one annual general meeting of the company and that of the next, except that so long as the company holds its first annual general meeting within eighteen months of its incorporation, it need not hold it in the year of its incorporation or in the following year. The annual general meeting shall be held at such time and place as the directors shall appoint.5.All general meetings other than annual general meetings shall be called extraordinary general meetings.6.The directors may, whenever they think fit, convene an extraordinary general meeting, and extraordinary general meetings shall also be convened on such requisition, or, in default, may be convened by such requisitionists, as provided by section 132 of the Act. If at any time there are not within Uganda sufficient directors capable of acting to form a quorum, any director or any two members of the company may convene an extraordinary general meeting in the same manner as nearly as possible as that in which meetings may be convened by the directors.Notice of general meetings
7.(1)An annual general meeting and a meeting called for the passing of a special resolution shall be called by twenty-one days’ notice in writing at the least. The notice shall be exclusive of the day on which it is served or deemed to be served and of the day for which it is given, and shall specify the place, the date and the hour of meeting and, in case of special business, the general nature of that business and shall be given, in the manner hereafter mentioned or in such other manner, if any, as may be prescribed by the company in general meeting, to such persons as are, under the articles of the company, entitled to receive such notices from the company.(2)A meeting of the company shall, notwithstanding that it is called by shorter notice than that specified in this article be deemed to have been duly called if it is so agreed—(a)in the case of a meeting called as the annual general meeting, by all the members entitled to attend and vote at the meeting; and(b)in the case of any other meeting, by a majority in number of the members having a right to attend and vote at the meeting, being a majority together representing not less than 95 percent of the total voting rights at that meeting of all the members.8.The accidental omission to give notice of a meeting to, or the nonreceipt of notice of a meeting by, any person entitled to receive notice shall not invalidate the proceedings at that meeting.Proceedings at general meetings
9.All business shall be deemed special that is transacted at an extraordinary general meeting, and also all that is transacted at an annual general meeting, with the exception of declaring a dividend, the consideration of the accounts, balance sheets, and the reports of the directors and auditors, the election of directors in the place of those retiring and the appointment of, and the fixing of the remuneration of the auditors.10.No business shall be transacted at any general meeting unless a quorum of members is present at the time when the meeting proceeds to business; except as herein otherwise provided, three members present in person shall be a quorum.11.If within half an hour from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of members, shall be dissolved; in any other case, it shall stand adjourned to the same day in the next week, at the same time and place, or to such other day and at such other time and place as the directors may determine, and if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the members present shall be a quorum.12.The chairperson, if any, of the board of directors shall preside as chairperson at every general meeting of the company, or if there is no such chairperson, or if he or she shall not be present within fifteen minutes after the time appointed for the holding of the meeting or is unwilling to act, the directors present shall elect one of their number to be chairperson of the meeting.13.If at any meeting no director is willing to act as chairperson or if no director is present within fifteen minutes after the time appointed for holding the meeting, the members present shall choose one of their number to be chairperson of the meeting.14.The chairperson may, with the consent of any meeting at which a quorum is present (and shall if so directed by the meeting), adjourn the meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a meeting is adjourned for thirty days or more, notice of the adjourned meeting shall be given as in the case of an original meeting. Except as aforesaid, it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting.15.At any general meeting a resolution put to the vote of the meeting shall be decided on a show of hands unless a poll is (before or on the declaration of the result of the show of hands) demanded—(b)by at least three members present in person or by proxy; or(c)by any member or members present in person or by proxy and representing not less than one-tenth of the total voting rights of all the members having the right to vote at the meeting.Unless a poll is so demanded, a declaration by the chairperson that a resolution has on a show of hands been carried or carried unanimously, or by a particular majority, or lost, an entry to that effect in the book containing the minutes of proceedings of the company shall be conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against such resolution.The demand for a poll may be withdrawn.16.Except as provided in article 18, if a poll is duly demanded, it shall be taken in such manner as the chairperson directs, and the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded.17.In the case of an equality of votes, whether on a show of hands or on a poll, the chairperson of the meeting at which the show of hands takes place or at which the poll is demanded shall be entitled to a second or casting vote.18.A poll demanded on the election of a chairperson, or on a question of adjournment, shall be taken forthwith. A poll demanded on any other question shall be taken at such time as the chairperson of the meeting directs, and any business other than that upon which a poll has been demanded may be proceeded with pending the taking of the poll.19.Subject to the Act, a resolution in writing signed by all the members for the time being entitled to receive notice of and to attend and vote at general meetings (or being corporations by their duly authorised representatives) shall be as valid and effective as if the same had been passed at a general meeting of the company duly convened and held.Votes of members
20.Every member shall have one vote.21.A member of unsound mind in respect of whose estate a manager has been appointed under the law relating to the administration of estates of persons of unsound mind may vote, whether on a show of hands or on a poll, by his or her manager, and any such manager may, on a poll, vote by proxy.22.No member shall be entitled to vote at any general meeting unless all monies presently payable by him or her to the company have been paid.23.On a poll votes may be given either personally or by proxy.24.The instrument appointing a proxy shall be in writing under the hand of the appointer or of his or her attorney duly authorised in writing, or if the appointer is a corporation, either under seal or under the hand of an officer or attorney duly authorised. A proxy need not be a member of the company.25.The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority shall be deposited at the registered office of the company or at such other place within Uganda as is specified for that purpose in the notice convening the meeting, not less than forty-eight hours before the time for holding the meeting or adjourned meeting at which the person named in the instrument proposes to vote, or, in the case of a poll, not less than twenty-four hours before the time appointed for the taking of the poll, and in default the instrument of proxy shall not be treated as valid.26.An instrument appointing a proxy shall be in the following form or a form as near to it as circumstances admit—L_____________________________________ Limited.I/We, ______________________________________________________, being a member/members of the above-named company, appoint _____________________________________________ of ____________________________________________ , or failing him/her, __________________________ of __________________________ , as my/our proxy to vote for me/us on my/our behalf at the annual (or extraordinary) general meeting of the company to be held on the _____day of __________________ , 20. ____, and at any adjournment of that meeting.Signed this ______ day of _________________ , 20___.27.Where it is desired to afford members an opportunity of voting for or against a resolution, the instrument appointing a proxy shall be in the following form or a form as near to it as circumstances admit—L_____________________________________ Limited.I/We, ______________________________________________________, being a member/members of the above-named company, appoint _____________________________________________ of ____________________________________________ , or failing him/her, __________________________ of __________________________ , as my/our proxy to vote for me/us on my/our behalf at the annual (or extraordinary) general meeting of the company to be held on the _____day of __________________ , 20. ____, and at any adjournment of that meeting.Signed this ______ day of _________________ , 20___.This form is to be used *in favour of/against the resolution. Unless otherwise instructed, the proxy will vote as he/she thinks fit.*Strike out whichever is not desired.28.The instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding a poll.29.A vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding the previous death or insanity of the principal or revocation of the proxy or of the authority under which the proxy was executed, provided that no intimation in writing of such death, insanity or revocation as aforesaid shall have been received by the company at the office before the commencement of the meeting or adjourned meeting at which the proxy is used.Corporations acting by representatives at meetings
30.Any corporation which is a member of the company may by resolution of its directors or other governing body authorise such person as it thinks fit to act as its representative at any meeting of the company, and the person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he or she represents as that corporation could exercise if it were an individual member of the company.Directors
31.The number of the directors and the names of the first directors shall be determined in writing by the subscribers of the memorandum of association or a majority of them.32.The remuneration of the directors shall from time to time be determined by the company in general meeting. Such remuneration shall be deemed to accrue from day to day. The directors shall also be paid all travelling, hotel and other expenses properly incurred by them in attending and returning from meetings of the directors or any committee of the directors or general meetings of the company or in connection with the business of the company.Borrowing powers
33.The directors may exercise all the powers of the company to borrow money, and to mortgage or charge its undertaking and property, or any part thereof, and to issue debentures, debenture stock and othersecurities, whether outright or as security for any debt, liability or obligation of the company or of any third party.Powers and duties of directors
34.The business of the company shall be managed by the directors, who may pay all expenses incurred in promoting and registering the company, and may exercise all such powers of the company as are not, by the Act or by these articles, required to be exercised by the company in general meeting, subject, nevertheless, to the provisions of the Act or these articles and to such regulations, being not inconsistent with the aforesaid provisions, as may be prescribed by the company in general meeting; but no regulation made by the company in general meeting shall invalidate any prior act of the directors which would have been valid if that regulation had not been made.35.The directors may from time to time and at any time by power of attorney appoint any company, firm or person or body of persons, whether nominated directly or indirectly by the directors, to be the attorney or attorneys of the company for such purposes and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the directors under these articles) and for such period and subject to such conditions as they may think fit, and any such powers of attorney may contain such provisions for the protection and convenience of persons dealing with any such attorney as the directors may think fit and may also authorise any such attorney to delegate all or any of the powers, authorities and discretions vested in him or her.36.All cheques, promissory notes, drafts, bills of exchange and other negotiable instruments, and all receipts for monies paid to the company, shall be signed, drawn, accepted, endorsed or otherwise executed, as the case may be, in such manner as the directors shall from time to time by resolution determine.37.The directors shall cause minutes to be made in books provided for the purpose—(a)of all appointments of officers made by the directors;(b)of the names of the directors present at each meeting of the directors and of any committee of the directors;(c)of all resolutions and proceedings at all meetings of the company, and of the directors, and of committees of directors,and every director present at any meeting of directors or committee of directors shall sign his or her name in a book to be kept for that purpose.Disqualification of directors
38.The office of director shall be vacated if the director—(a)without the consent of the company in general meeting holds any other office of profit under the company;(b)becomes bankrupt or makes any arrangement or composition with his or her creditors generally;(c)becomes prohibited from being a director by reason of any order made under section 189 of the Act;(d)becomes of unsound mind;(e)resigns his or her office by notice in writing to the company;(f)ceases to be a director by virtue of section 186 of the Act; or(g)is directly or indirectly interested in any contract with the company and fails to declare the nature of his or her interest in the manner required by section 200 of the Act.A director shall not vote in respect of any contract in which he or she is interested or any matter arising thereout, and if he or she does so vote his or her vote shall not be counted.Rotation of directors
39.At the first annual general meeting of the company, all the directors shall retire from office; and at the annual general meeting in every subsequent year, one-third of the directors for the time being, or, if their number is not three or a multiple of three, then the number nearest one-third, shall retire from office.40.The directors to retire in every year shall be those who have been longest in office since their last election, but as between persons who became directors on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot.41.A retiring director shall be eligible for reelection.42.The company at the meeting at which a director retires in the manner aforesaid may fill the vacated office by electing a person thereto, and in default the retiring director shall, if offering himself or herself for reelection, be deemed to have been reelected, unless at such meeting it is expressly resolved not to fill such vacated office or unless a resolution for the reelection of such director shall have been put to the meeting and lost.43.No person other than a director retiring at the meeting shall unless recommended by the directors be eligible for election to the office of director at any general meeting unless, not less than three nor more than twenty-one days before the date appointed for the meeting, there shall have been left at the registered office of the company notice in writing, signed by a member duly qualified to attend and vote at the meeting for which such notice is given, of his or her intention to propose such person for election, and also notice in writing signed by that person of his or her willingness to be elected.44.The company may from time to time by ordinary resolution increase or reduce the number of directors, and may also determine in what rotation the increased or reduced number is to go out of office.45.The directors shall have power at any time, and from time to time, to appoint any person to be a director, either to fill a casual vacancy or as an addition to the existing directors, but so that the total number of directors shall not at any time exceed the number fixed in accordance with these articles. Any director so appointed shall hold office only until the next following annual general meeting, and shall then be eligible for reelection, but shall not be taken into account in determining the directors who are to retire by rotation at such meeting.46.The company may by ordinary resolution, of which special notice has been given in accordance with section 142 of the Act, remove any director before the expiration of his or her period of office notwithstanding anything in these articles or in any agreement between the company and such director. Such removal shall be without prejudice to any claim such director may have for damages for breach of any contract of service between him or her and the company.47.The company may by ordinary resolution appoint another person in place of a director removed from office under article 46. Without prejudice to the powers of the directors under article 45, the company in general meeting may appoint any person to be a director either to fill a casual vacancy or as an additional director. The person appointed to fill such a vacancy shall be subject to retirement at the same time as if he or she had become a director on the day on which the director in whose place he or she is appointed was last elected a director.Proceedings of directors
48.The directors may meet together for the dispatch of business, adjourn and otherwise regulate their meetings, as they think fit. Questions arising at any meeting shall be decided by a majority of votes. In the case of an equality of votes, the chairperson shall have a second or casting vote. A director may, and the secretary on the requisition of a director shall, at any time summon a meeting of the directors. It shall not be necessary to give notice of a meeting of directors to any director for the time being absent from Uganda.49.The quorum necessary for the transaction of the business of the directors may be fixed by the directors, and unless so fixed shall be two.50.The continuing directors may act notwithstanding any vacancy in their body, but, if and so long as their number is reduced below the number fixed by or pursuant to the articles of the company as the necessary quorum of directors, the continuing directors or director may act for the purpose of increasing the number of directors to that number, or of summoning a general meeting of the company, but for no other purpose.51.The directors may elect a chairperson of their meetings and determine the period for which he or she is to hold office; but, if no such chairperson is elected, or if at any meeting the chairperson is not present within five minutes after the time appointed for holding the same, the directors present may choose one of their number to be chairperson of the meeting.52.The directors may delegate any of their powers to committees consisting of such member or members of their body as they think fit; any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the directors.53.A committee may elect a chairperson of its meetings; if no such chairperson is elected, or if at any meeting the chairperson is not present within five minutes after the time appointed for holding the same, the members present may choose one of their number to be chairperson of the meeting.54.A committee may meet and adjourn as it thinks proper. Questions arising at any meeting shall be determined by majority of votes of the members present, and in the case of an equality of votes, the chairperson shall have a second or casting vote.55.All acts done by any meeting of the directors or of a committee of directors, or by any person acting as a director, shall, notwithstanding that it be afterwards discovered that there was some defect in the appointment of any such director or person acting as aforesaid, or that they or any of them were disqualified, be as valid as if every such person had been duly appointed and was qualified to be a director.56.A resolution in writing, signed by all the directors for the time being entitled to receive notice of a meeting of the directors, shall be as valid and effectual as if it had been passed at a meeting of the directors duly convened and held.Secretary
57.The secretary shall be appointed by the directors for such term, at such remuneration and upon such conditions as they may think fit; and any secretary so appointed may be removed by them.58.A provision of the Act or these articles requiring or authorising a thing to be done by or to a director and the secretary shall not be satisfied by its being done by or to the same person acting both as director and as, or in place of, the secretary.The seal
59.The directors shall provide for the safe custody of the seal, which shall only be used by the authority of the directors or of a committee of the directors authorised by the directors in that behalf, and every instrument to which the seal shall be affixed shall be signed by a director and shall be countersigned by the secretary or by a second director or by some other person appointed by the directors for the purpose.Accounts
60.The directors shall cause proper books of account to be kept with respect to—(a)all sums of money received and expended by the company and the matters in respect of which the receipt and expenditure takes place;(b)all sales and purchases of goods by the company; and(c)the assets and liabilities of the company.Proper books shall not be deemed to be kept if there are not kept such books of account as are necessary to give a true and fair view of the state of the company’s affairs and to explain its transactions.61.The books of account shall be kept at the registered office of the company, or, subject to section 147(3) of the Act, at such other place or places as the directors think fit, and shall always be open to the inspection of the directors.62.The directors shall from time to time determine whether and to what extent and at what times and places and under what conditions or regulations the accounts and books of the company or any of them shall be open to the inspection of members not being directors, and no member (not being a director) shall have any right of inspecting any account or book or document of the company except as conferred by statute or authorised by the directors or by the company in general meeting.63.The directors shall from time to time, in accordance with sections 148, 150 and 157 of the Act, cause to be prepared and to be laid before the company in general meeting such profit and loss accounts, balance sheets, group accounts, if any, and reports as are referred to in those sections.64.A copy of every balance sheet (including every document required by law to be annexed to it) which is to be laid before the company in general meeting, together with a copy of the auditor’s report, shall not less than twenty-one days before the date of the meeting be sent to every member of, and every holder of debentures of, the company; except that this article shall not require a copy of those documents to be sent to any person of whose address the company is not aware or to more than one of the joint holders of any debentures.Audit
65.Auditors shall be appointed and their duties regulated in accordance with sections 159 to 162 of the Act.Notices
66.A notice may be given by the company to any member either personally or by sending it by post to him or her or to his or her registered address, or (if he or she has no registered address within Uganda) to the address, if any, within Uganda supplied by him or her to the company for the giving of notice to him or her. Where a notice is sent by post, service of the notice shall be deemed to be effected by properly addressing, prepaying and posting a letter containing the notice, and to have been effected in the case of a notice of a meeting at the expiration of forty-eight hours after the letter containing the same is posted, and in any other case at the time at which the letter would be delivered in the ordinary course of post.67.Notice of every general meeting shall be given in any manner hereinbefore authorised to—(a)every member except those members who (having no registered address within Uganda) have not supplied to the company an address within Uganda for the giving of notices to them;(b)every person being a personal representative or a trustee in bankruptcy of a member where the member but for his or her death or bankruptcy would be entitled to receive notice of the meeting; and(c)the auditor of the company.No other person shall be entitled to receive notices of general meetings.| Names, postal addresses and occupations of subscribers | Signatures of subscribers |
| 1. | |
| 2. | |
| 3. | |
| 4. | |
| 5. | |
| 6. | |
| 7. | |
Table D
Memorandum and articles of association of a company limited by guarantee, and having a share capital
Part I – Memorandum of association
1st. The name of the company is “The Elgon Hotel Company, Limited.”2nd. The registered office of the company will be situate in Uganda.3rd. The objects for which the company is established are “the facilitating travelling on Mount Elgon, by providing hotels and conveyances by land for the accommodation of travellers, and doing all such other things as are incidental or conducive to the attainment of the above object.”4th. The liability of the members is limited.5th. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while he or she is a member, or within one year afterwards, for payment of the debts and liabilities of the company, contracted before he or she ceases to be a member, and the costs, charges and expenses of winding up the same and for the adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding twenty pounds.6th. The share capital of the company shall consist of five hundred thousand shillings divided into five thousand shares of one hundred shillings eachWe, the several persons whose names and addresses are subscribed, are desirous of being formed into a company, in pursuance of this memorandum of association, and we respectively agree to take the number of shares in the capital of the company set opposite our respective names.| Names, postal addresses and occupations of subscribers | Number of shares taken by each subscriber | Signatures of subscribers |
| 1. | | |
| 2. | | |
| 3. | | |
| 4. | | |
| 5. | | |
| 6. | | |
| 7. | | |
| Total shares taken |
Part II – Articles of association to accompany preceding memorandum of association
1.The number of members with which the company proposes to be registered is fifty, but the directors may from time to time register an increase of members.2.The regulations of Table A, Part I, set out in the First Schedule to the Companies Act, shall be deemed to be incorporated with these articles and shall apply to the company.| Names, postal addresses and occupations of subscribers | Signatures of subscribers |
| 1. | |
| 2. | |
| 3. | |
| 4. | |
| 5. | |
| 6. | |
| 7. | |
Table E
Memorandum and articles of association of an unlimited company having a share capital
Part I – Memorandum of association
1st. The name of the company is “The Patent Stereotype Company.”2nd. The registered office of the company will be situate in Uganda.3rd. The objects for which the company is established are “the working of a patent method of founding and casting stereotype plates, of which method John Smith of Kampala is the sole patentee, and doing of all such things as are incidental or conducive to the attainment of the above objects.”We, the several persons whose names are subscribed, are desirous of being formed into a company, in pursuance of this memorandum of association, and we respectively agree to take the number of shares in the capital of the company set opposite our respective names.| Names, postal addresses and occupations of subscribers | Number of sharestaken by each subscriber | Signatures of subscribers |
| 1. | | |
| 2. | | |
| 3. | | |
| 4. | | |
| 5. | | |
| 6. | | |
| 7. | | |
| Total shares taken |
Part II – Articles of association to accompany the preceding memorandum of association
1.The number of members with which the company proposes to be registered is twenty, but the directors may from time to time register an increase of members.2.The share capital of the company is two thousand shillings divided into twenty shares of one hundred shillings each.3.The company may by special resolution—(a)increase the share capital by such sum to be divided into shares of such amount as the resolution may prescribe;(b)consolidate its shares into shares of a larger amount than its existing shares;(c)subdivide its shares into shares of a smaller amount than its existing shares;(d)cancel any shares which at the date of the passing of the resolution have not been taken or agreed to be taken by any person;(e)reduce its share capital in any way.4.The regulations of Table A, Part I, set out in the First Schedule to the Companies Act (other than regulations 40 to 46 inclusive) shall be deemed to be incorporated with these articles and shall apply to the company.| Names, postal addresses and occupations of subscribers | Signatures of subscribers |
| 1. | |
| 2. | |
| 3. | |
| 4. | |
| 5. | |
| 6. | |
| 7. | |
Second Schedule (s. 31)
Form of statement in lieu of prospectus to be delivered to the registrar by a private company on becoming a public company and reports to be set out in it
Part I – Form of statement and particulars to be contained in it
Statement in Lieu of Prospectus Delivered for Registration by
(insert the name of the company).
Pursuant to section 31 of the Companies ActDelivered for registration| The nominal share capital of the company | Shs. |
| Divided into | ___________ shares of shs. ___ each___________ shares of shs. ___ each___________ shares of shs. ___ each |
| Amount (if any) of the above capital which consists of redeemable preference shares | ___________ shares of shs. ___ each |
| The earliest date on which the company has power to redeem these shares | |
| Names, occupations and postal addresses of directors or proposed directors | |
| Amount of shares issued | ___________ shares |
| Amount of commissions paid in connection therewith | |
| Amount of discount (if any) allowed on the issue of any shares, or so much thereof as has not been written off at the date of the statement | |
| Unless more than one year has elapsed since the date on which the company was entitled to commence business— | |
| Amount of preliminary expenses | shs. _________ |
| By whom those expenses have been paid or are payable | |
| Amount paid to any promoter | Name of promoter Amount shs. |
| Consideration for the payment | Consideration |
| Any other benefit given to any promoter | Name of promoter Nature and value of benefit |
| Consideration for giving of benefit | Consideration |
| If the share capital of the company is divided into different classes of shares, the right of voting at meetings of the company conferred by, and the rights in respect of capital and dividends attached to, the several classes of shares respectively | |
| Number and amount of shares and debentures issued within the two years preceding the date of this statement as fully or partly paid-up otherwise than for cash or agreed to be so issued at the date of this statement | ______ shares of shs. fully paid______ shares upon which shs. per share credited as paid______ debenture shs. |
| Consideration for the issue of those shares or debentures | Consideration |
| Number, description and amount of any shares or debentures which any person has or is entitled to be given an option to subscribe for, or to acquire from a person to whom they have been allotted or agreed to be allotted with a view to his or her offering them for sale | ____ shares of shs. and debentures of _____ shs. |
| Period during which option is exercisable | Until |
| Price to be paid for shares or debentures subscribed for or acquired upon option | |
| Consideration for option or right to option | Consideration |
| Persons to whom option or right to option was given or, if given to existing shareholders or debenture holders as such, the relevant shares or debentures | Names and addresses |
| Names and postal addresses of vendors of property (1) purchased or acquired by the company within the two years preceding the date of this statement or (2) agreed or proposed to be purchased or acquired by the company, except where the contract for its purchase or acquisition was entered into in the ordinary course of business and there is no connection between the contract and the company ceasing to be a private company or where the amount of the purchase money is not material | |
| Amount (in cash, shares or debentures) paid or payable to each separate vendor | |
| Amount paid or payable in cash, shares or debentures for any such property, specifying the amount paid or payable for goodwill | Total purchase price shs.Cash shs. _____Shares shs. _____Debentures shs. _____Goodwill shs. _____ |
| Short particulars of any transaction relating to any such property which was completed within the two preceding years and in which any vendor to the company or any person who is, or was at the time thereof, a promoter, director or proposed director of the company had any interest direct or indirect | |
| Dates of, parties to and general nature of every material contract (other than contracts entered into in the ordinary course of business or entered into more than two years before the delivery of this statement) | |
| Time and place at which the contracts or copies of the contracts may be inspected or (1) in the case of a contract not reduced into writing, a memorandum giving full particulars of the contracts, and (2) in the case of a contract wholly or partly in a foreign language, a copy of a translation thereof in English or embodying a translation in English of the parts in a foreign language, as the case may be, being a translation certified in the prescribed manner to be a correct translation | |
| Names and postal addresses of the auditors of the company | |
| Full particulars of the nature and extent of the interest of every director in any property purchased or acquired by the company within the two years preceding the date of this statement or proposed to be purchased or acquired by the company or, where the interest of such a director consists in being a partner in a firm, the nature and extent of the interest of the firm, with a statement of all sums paid or agreed to be paid to him or her or to the firm in cash or shares, or otherwise, by any person either to induce him or her to become or to qualify him or her as, a director, or otherwise for services rendered or to be rendered to the company by him or her or by the firm | |
| Rates of the dividends (if any) paid by the company in respect of each class of shares in the company in each of the five financial years immediately preceding the date of this statement or since the incorporation of the company whichever period is the shorter | |
| Particulars of the cases in which no dividends have been paid in respect of any class of shares in any of these years | |
Part II – Reports to be set out
1.If unissued shares or debentures of the company are to be applied in the purchase of a business, a report made by accountants (who shall be named in the statement) upon—(a)the profits or losses of the business in respect of each of the five financial years immediately preceding the delivery of the statement to the registrar; and(b)the assets and liabilities of the business at the last date to which the accounts of the business were made up.2.(1)If unissued shares or debentures of the company are to be applied directly or indirectly in any manner resulting in the acquisition of shares in a body corporate which by reason of the acquisition or anything to be done in consequence thereof or in connection therewith will become a subsidiary of the company, a report made by accountants (who shall be named in the statement) with respect to the profits and losses and assets and liabilities of the other body corporate in accordance with subparagraph (2) or (3) of this paragraph, as the case requires, indicating how the profits or losses of the other body corporate dealt with by the report would, in respect of the shares to be acquired, have concerned members of the company, and what allowance would have fallen to be made, in relation to assets and liabilities so dealt with, for holders of other shares, if the company had at all material times held the shares to be acquired.(2)If the other body corporate has no subsidiaries, the report referred to in subparagraph (1) of this paragraph shall—(a)so far as regards profits and losses, deal with the profits or losses of the body corporate in respect of each of the five financial years immediately preceding the delivery of statement to the registrar; and(b)so far as regards assets and liabilities, deal with the assets and liabilities of the body corporate at the last date to which the accounts of the body corporate were made up.(3)If the other body corporate has subsidiaries, the report referred to in subparagraph (1) of this paragraph shall—(a)so far as regards profits and losses, deal separately with the other body corporate’s profits or losses as provided by subparagraph (2) of this paragraph, and, in addition, deal either—(i)as a whole with the combined profits or losses of its subsidiaries, so far as they concern members of the other body corporate; or(ii)individually with the profits or losses of each subsidiary, so far as they concern members of the other body corporate, or, instead of dealing separately with the other body corporate’s profits or losses, deal as a whole with the profits or losses of the other body corporate and, so far as they concern members of the other body corporate, with the combined profits or losses of its subsidiaries; and(b)so far as regards assets and liabilities, deal separately with the other body corporate’s assets and liabilities as provided by subparagraph (2) of this paragraph and, in addition, deal either—(i)as a whole with the combined assets and liabilities of its subsidiaries, with or without the other body corporate’s assets and liabilities; or(ii)individually with the assets and liabilities of each subsidiary, and shall indicate as respects the assets and liabilities of the subsidiaries the allowance to be made for persons other than members of the company.Part III – Provisions applying to Parts I and II of this Schedule
3.In this Schedule, “vendor” includes a vendor as defined in Part III of the Third Schedule to this Act, and “financial year” has the meaning assigned to it in that Part of that Schedule.4.If in the case of a business which has been carried on, or of a body corporate which has been carrying on business, for less than five years, the accounts of the business or body corporate have only been made up in respect of four years, three years, two years or one year, Part II of this Schedule shall have effect as if reference to four years, three years, two years or one year, as the case may be, were substituted for references to five years.5.Any report required by Part II of this Schedule shall either indicate by way of note any adjustments as respects the figures of any profits or losses or assets and liabilities dealt with by the report which appear to the persons making the report necessary or shall make those adjustments and indicate that adjustments have been made.6.Any report by accountants required by Part II of this Schedule shall be made by accountants qualified under this Act for appointment as auditors of a company which is not a private company and shall not be made by any accountant who is an officer or servant, or a partner of or in the employment of an officer or servant, of the company, or of the company’s subsidiary or holding company or of a subsidiary of the company’s holding company; and for the purposes of this paragraph the expression “officer” shall include a proposed director but not an auditor.Third Schedule (ss. 31, 39, 42, 49, 380)
Matters to be specified in prospectus and reports to be set out in it
Part I – Matters to be specified
1.The number of founders or management or deferred shares, if any, and the nature and extent of the interest of the holders in the property and profits of the company.2.The number of shares, if any, fixed by the articles as the qualification of a director, and any provision in the articles as to the remuneration of the directors.3.The names, occupations and postal addresses of the directors or proposed directors.4.Where shares are offered to the public for subscription, particulars as to—(a)the minimum amount which, in the opinion of the directors must be raised by the issue of those shares in order to provide the sums, or, if any part thereof is to be defrayed in any other manner, the balance of the sums, required to be provided in respect of each of the following matters—(i)the purchase price of any property purchased or to be purchased which is to be defrayed in whole or in part out of the proceeds of the issue;(ii)any preliminary expenses payable by the company, and any commission so payable to any person in consideration of his or her agreeing to subscribe for, or of his or her procuring or agreeing to procure subscriptions for, any shares in the company;(iii)the repayment of any monies borrowed by the company in respect of any of the foregoing matters;(b)the amounts to be provided in respect of the matters aforesaid otherwise than out of the proceeds of the issue and the sources out of which those amounts are to be provided.5.The time of the opening of the subscription lists.6.The amount payable on application and allotment on each share, and, in the case of a second or subsequent offer of shares, the amount offered for subscription on each previous allotment made within the two preceding years, the amount actually allotted and the amount, if any, paid on the shares so allotted.7.The number, description and amount of any shares in or debentures of the company which any person has, or is entitled to be given, an option to subscribe for, together with the following particulars of the option—(a)the period during which it is exercisable;(b)the price to be paid for shares or debentures subscribed for under it;(c)the consideration, if any, given or to be given for it or for the right to it;(d)the names and postal addresses of the persons to whom it or the right to it was given or, if given to existing shareholders or debenture holders as such, the relevant shares or debentures.8.The number and amount of shares and debentures which within the two preceding years have been issued, or agreed to be issued, as fully or partly paid-up otherwise than in cash, and in the latter case the extent to which they are so paid-up, and in either case the consideration for which these shares or debentures have been issued or are proposed or intended to be issued.(1)As respects any property to which this paragraph applies—(a)the names and postal addresses of the vendors;(b)the amount payable in cash, shares or debentures to the vendor and, where there is more than one separate vendor, or the company is a subpurchaser, the amount so payable to each vendor;(c)short particulars of any transaction relating to the property completed within the two preceding years in which any vendor of the property to the company or any person who is, or was at the time of the transaction, a promoter or a director or proposed director of the company had any interest direct or indirect.(2)The property to which this paragraph applies is property purchased or acquired by the company or proposed so to be purchased or acquired, which is to be paid for wholly or partly out of the proceeds or acquisition of which has not been completed at the date of the issue of the prospectus, other than property—(a)the contract for the purchase or acquisition whereof was entered into in the ordinary course of the company’s business, the contract not being made in contemplation of the issue nor the issue in consequence of the contract; or(b)as respects which the amount of the purchase money is not material.10.The amount, if any, paid or payable as purchase money in cash, shares or debentures for any property to which paragraph 9 applies, specifying the amount, if any, payable for goodwill.11.The amount, if any, paid within the two preceding years or payable, as commission (but not including commission to subunderwriters) for subscribing or agreeing to subscribe, or procuring or agreeing to procure subscriptions, for any shares in or debentures of the company, or the rate of any such commission.12.The amount or estimated amount of preliminary expenses and the persons by whom any of those expenses have been paid or are payable, and the amount or estimated amount of the expenses of the issue and the persons by whom any of those expenses have been paid or are payable.13.Any amount or benefit paid or given within the two preceding years or intended to be paid or given to any promoter, and the consideration for the payment or the giving of the benefit.14.The dates of, parties to and general nature of every material contract, not being a contract entered into in the ordinary course of the business carried on or intended to be carried on by the company or a contract entered into more than two years before the date of issue of the prospectus.15.The names and postal addresses of the auditors, if any, of the company.16.Full particulars of the nature and extent of the interest, if any, of every director in the promotion of, or in the property proposed to be acquired by, the company, or, where the interest of such a director consists in being a partner in a firm, the nature and extent of the interest of the firm, with a statement of all sums paid or agreed to be paid to him or her or to the firm in cash or shares or otherwise by any person either to induce him or her to become, or to qualify him or her as, a director, or otherwise for services rendered by him or her or by the firm in connection with the promotion or formation of the company.17.If the prospectus invites the public to subscribe for shares in the company and the share capital of the company is divided into different classes of shares, the right of voting at meetings of the company conferred by, and the rights in respect of capital and dividends attached to, the several classes of shares respectively.18.In the case of a company which has been carrying on business, or of a business which has been carried on for less than three years, the length of time during which the business of the company or the business to be acquired, as the case may be, has been carried on.Part II – Reports to be set out
19.(1)A report by the auditors of the company with respect to—(a)profits and losses and assets and liabilities, in accordance with subparagraph (2) or (3) of this paragraph, as the case requires; and(b)the rates of the dividends, if any, paid by the company in respect of each class of shares in the company in respect of each of the five financial years immediately preceding the issue of the prospectus, giving particulars of each such class of shares on which such dividends have been paid and particulars of the case in which no dividends have been paid in respect of any class of shares in respect of any of those years,and, if no accounts have been made up in respect of any part of the period of five years ending on a date three months before the issue of the prospectus, containing a statement of that fact.(2)If the company has no subsidiaries, the report shall—(a)so far as regards profits and losses, deal with the profits or losses of the company in respect of each of the five financial years immediately preceding the issue of the prospectus; and(b)so far as regards assets and liabilities, deal with the assets and liabilities of the company at the last date to which the accounts of the company were made up.(3)If the company has subsidiaries, the report shall—(a)so far as regards profits and losses, deal separately with the company’s profits or losses as provided by subparagraph (2), and, in addition, deal either—(i)as a whole with the combined profits or losses of its subsidiaries, so far as they concern members of the company; or(ii)individually with the profits or losses of each subsidiary, so far as they concern members of the company, or, instead of dealing separately with the company’s profits or losses, deal as a whole with the profits or losses of the company and, so far as they concern members of the company, with the combined profits or losses of its subsidiaries; and(b)so far as regards assets and liabilities, deal separately with the company’s assets and liabilities as provided by subparagraph (2) and, in addition, deal either—(i)as a whole with the combined assets and liabilities of its subsidiaries, with or without the company’s assets and liabilities; or(ii)individually with the assets and liabilities of each subsidiary, and shall indicate as respects the assets and liabilities of the subsidiaries the allowance to be made for persons other than members of the company.20.If the proceeds, or any part of the proceeds, of the issue of the shares or debentures are or is to be applied directly or indirectly in the purchase of any business, a report made by accountants (who shall be named in the prospectus) upon—(a)the profits or losses of the business in respect of each of the five financial years immediately preceding the issue of the prospectus; and(b)the assets and liabilities of the business at the last date to which the accounts of the business were made up.21.(1)If—(a)the proceeds, or any part of the proceeds, of the issue of the shares or debentures are or is to be applied directly or indirectly in any manner resulting in the acquisition by the company of shares in any other body corporate; and(b)by reason of that acquisition or anything to be done in consequence thereof or in connection therewith that body corporate will become a subsidiary of the company,a report made by accountants (who shall be named in the prospectus) upon—(c)the profits or losses of the other body corporate in respect of each of the five financial years immediately preceding the issue of the prospectus; and(d)the assets and liabilities of the other body corporate at the last date to which the accounts of the body corporate were made up.(2)The report shall—(a)indicate how the profits or losses of the other body corporate dealt with by the report would, in respect of the shares to be acquired, have concerned members of the company and what allowance would have fallen to be made, in relation to assets and liabilities so dealt with, for holders of other shares, if the company had at all material times held the shares to be acquired; and(b)where the other body corporate has subsidiaries, deal with the profits or losses and the assets and liabilities of the body corporate and its subsidiaries in the manner provided by paragraph 19(3) of this Schedule in relation to the company and its subsidiaries.Part III – Provisions applying to Parts I and II of the Schedule
22.Paragraphs 2, 3, 12 (so far as it relates to preliminary expenses) and 16 of this Schedule shall not apply in the case of a prospectus issued more than two years after the date at which the company is entitled to commence business.23.Every person shall for the purposes of this Schedule be deemed to be a vendor who has entered into any contract, absolute or conditional, for the sale or purchase, or for any option of purchase, of any property to be acquired by the company, in any case where—(a)the purchase money is not fully paid at the date of the issue of the prospectus;(b)the purchase money is to be paid or satisfied wholly or in part out of the proceeds of the issue offered for subscription by the prospectus;(c)the contract depends for its validity or fulfillment on the result of that issue.24.Where any property to be acquired by the company is to be taken on lease, this Schedule shall have effect as if “vendor” included the lessor, and “purchase money” included the consideration for the lease, and “subpurchaser” included a sublessee.25.References in paragraph 7 of this Schedule to subscribing for shares or debentures shall include acquiring them from a person to whom they have been allotted or agreed to be allotted with a view to his or her offering them for sale.26.For the purposes of paragraph 9 of this Schedule, where the vendors or any of them are a firm, the members of the firm shall not be treated as separate vendors.27.lf in the case of a company which has been carrying on business, or of a business which has been carried on for less than five years, the accounts of the company or business have only been made up in respect of four years, three years, two years or one year, Part II of this Schedule shall have effect as if references to four years, three years, two years or one year, as the case may be, were substituted for references to five years.28.“Financial year” in Part II of this Schedule means the year in respect of which the accounts of the company or of the business, as the case may be, are made up; and where by reason of any alteration of the date on which the financial year of the company or business terminates the accounts of the company or business have been made up for a period greater or less than a year, that greater or less period shall for the purpose of that Part of this Schedule be deemed to be a financial year.29.Any report required by Part II of this Schedule shall either indicate by way of note any adjustments as respects the figures of any profits or losses or assets and liabilities dealt with by the report which appear to the persons making the report necessary or shall make those adjustments and indicate that adjustments have been made.30.Any report by accountants required by Part II of this Schedule shall be made by accountants qualified under this Act for appointment as auditors of a company which is not a private company and shall not be made by any accountant who is an officer or servant, or a partner of or in the employment of an officer or servant, of the company or of the company’s subsidiary or holding company or of a subsidiary of the company’s holding company; and for the purposes of this paragraph, “officer” includes a proposed director but not an auditor.Fourth Schedule (s. 50)
Form of statement in lieu of prospectus to be delivered to the registrar by a company which does not issue a prospectus or which does not go to allotment on a prospectus issued, and reports to be set out in it
Part I – Form of statement and particulars to be contained in it
Statement in Lieu of Prospectus Delivered for Registration by
(insert the name of the company)
Pursuant to section 50 of the Companies Act.Delivered for registration by| The nominal share capital of the company | Shs. |
| Divided into | ____ shares of shs. _____ each____ shares of shs. _____ each____ shares of shs. _____ each |
| Amount (if any) of above capital which consists of redeemable preference shares | ____ shares of shs. _____ each |
| The earliest date on which the company has power to redeem these shares | |
| Names, occupations and postal addresses of directors or proposed directors | |
| If the share capital of the company is divided into different classes of shares, the right of voting at meetings of the company conferred by, and the rights in respect of capital and dividends attached to, the several classes of shares respectively | |
| Number and amount of shares and debentures agreed to be issued as fully or partly paid up otherwise than in cash | ____ shares of shs. ___ fully paid____ shares upon which shs.____ per share credited as paid____ debenture shs. ____ |
| The consideration for the intended issue of those shares and debentures | Consideration |
| Number, description and amount of any shares or debentures which any person has or is entitled to be given an option to subscribe for, or to acquire from a person to whom they have been allotted or agreed to be allotted with a view to his or her offering them for sale | ____ shares of shs. ____ and____ debentures of shs. ____ |
| Period during which option is exercisable | Until |
| Price to be paid for shares or debentures subscribed for or acquired under option | |
| Consideration for option or right to option | Consideration |
| Persons to whom option or right to option was given or, if given to existing shareholders or debenture holders as such, the relevant shares or debentures | Names and addresses |
| Names and postal addresses of vendors of property purchased or acquired, or proposed to be purchased or acquired by the company except where the contract for its purchase or acquisition was entered into in the ordinary course of the business intended to be carried on by the company or the amount of the purchase money is not material | |
| Amount (in cash, shares or debentures) payable to each separate vendor | |
| Amount (if any) paid or payable (in cash or shares or debentures) for any such property, specifying amount (if any) paid or payable for goodwill | Total purchase price shs.Cash shs. ____Shares shs. ____Debentures shs. ____Goodwill shs. ____ |
| Short particulars of any transaction relating to any such property which was completed within the two preceding years and in which any vendor to the company or any person who is, or was at the time thereof, a promoter, director or proposed director of the company had any interest direct or indirect | |
| Amount (if any) paid or payable as commission for subscribing or agreeing to subscribe or procuring or agreeing to procure subscriptions for any shares or debentures in the company or | Amount paid Amount payable |
| Rate of the commission | Rate percent |
| The number of shares, if any, which persons have agreed for a commission to subscribe absolutely | |
| Estimated amount of preliminary expenses | shs. |
| By whom those expenses have been paid or are payable | |
| Amount paid or intended to be paid to any promoter | Name of promoter Amount shs. |
| Consideration for the payment | Consideration |
| Any other benefit given or intended to be given to any promoter | Name of promoter Nature and value of benefit |
| Consideration for giving of benefit | Consideration |
| Dates of, parties to and general nature of every material contract (other than contract entered into in the ordinary course of the business intended to be carried on by the company or entered into more than two years before the delivery of this statement) | |
| Time and place at which the contract or copies of the contracts may be inspected or (1) in the case of a contract not reduced into writing, a memorandum giving full particulars thereof, and (2) in the case of a contract wholly or partly in a foreign language, a copy of a translation thereof in English or embodying a translation in English of the parts in a foreign language, as the case may be, being a translation certified in the prescribed manner to be a correct translation | |
| Names and postal addresses of the auditors of the company (if any) | |
| Full particulars of the nature and extent of the interest of every director in the promotion of or in the property proposed to be acquired by the company, or where the interest of such a director consists in being a partner in a firm, the nature and extent of the interest of the firm, with a statement of all sums paid or agreed to be paid to him or her or to the firm in cash or shares, or otherwise, by any person either to induce him or her to become, or to qualify him or her as, a director, or otherwise for services rendered by him or her or by the firm in connection with the promotion or formation of the company | |
Part II – Reports to be set out
1.Where it is proposed to acquire a business, a report made by accountants (who shall be named in the statement) upon—(a)the profits or losses of the business in respect of each of the five financial years immediately preceding the delivery of the statement to the registrar; and(b)the assets and liabilities of the business at the last date to which the accounts of the business were made up.2.(1)Where it is proposed to acquire shares in a body corporate which by reason of the acquisition or anything to be done in consequence thereof or in connection therewith will become a subsidiary of the company, a report made by accountants (who shall be named in the statement) with respect to the profits and losses and assets and liabilities of the other body corporate in accordance with subparagraph (2) or (3) of this paragraph, as the case requires, indicating how the profits or losses of the other body corporate dealt with by the report would, in respect of the shares to be acquired, have concerned members of the company, and what allowance would have fallen to be made, in relation to assets and liabilities so dealt with, for holders of other shares, if the company had at all material times held the shares to be acquired.(2)If the other body corporate has no subsidiaries, the report referred to in subparagraph (1) shall—(a)so far as regards profits and losses, deal with the profits or losses of the body corporate in respect of each of the five financial years immediately preceding the delivery of the statement to the registrar; and(b)so far as regards assets and liabilities, deal with the assets and liabilities of the body corporate at the last date to which the accounts of the body corporate were made up.(3)If the other body corporate has subsidiaries, the report referred to in subparagraph (1) of this paragraph shall—(a)so far as regards profits and losses, deal separately with the other body corporate’s profits or losses as provided by subparagraph (2) , and, in addition, deal either—(i)as a whole with the combined profits or losses of its subsidiaries, so far as they concern members of the other body corporate; or(ii)individually with the profits or losses of each subsidiary, so far as they concern members of the other body corporate,or, instead of dealing separately with the other body corporate’s profits or losses, deal as a whole with the profits or losses of the other body corporate and, so far as they concern members of the other body corporate, with the combined profits or losses of its subsidiaries; and(b)so far as regards assets and liabilities, deal separately with the other body corporate’s assets and liabilities as provided by subparagraph (2) and, in addition, deal either—(i)as a whole with the combined assets and liabilities of its subsidiaries, with or without the other body corporate’s assets and liabilities; or(ii)individually with the assets and liabilities of each subsidiary, and shall indicate as respects the assets and liabilities of the subsidiaries the allowance to be made for persons other than members of the company.Part III – Provisions applying to Parts I and II of this Schedule
3.In this Schedule, “vendor” includes a vendor as defined in Part III of the Third Schedule to this Act, and “financial year” has the meaning assigned to it in that Part of that Schedule.4.lf in the case of a business which has been carried on, or of a body corporate which has been carrying on business, for less than five years, the accounts of the business or body corporate have only been made up in respect of four years, three years, two years or one year, Part II of this Schedule shall have effect as if references to four years, three years, two years or one year, as the case may be, were substituted for references to five years.5.Any report required by Part II of this Schedule shall either indicate by way of note any adjustments as respects the figures of any profits or losses or assets and liabilities dealt with by the report which appear to the persons making the report necessary or shall make those adjustments and indicate that adjustments have been made.6.Any report by accountants required by Part II of this Schedule shall be made by accountants qualified under this Act for appointment as auditors of a company which is not a private company and shall not be made by any accountant who is an officer or servant, or a partner of or in the employment of an officer or servant, of the company or of the company’s subsidiary or holding company or of a subsidiary of the company’s holding company; and for the purposes of this paragraph the expression “officer” shall include a proposed director but not an auditor.Fifth Schedule (s. 125)
Contents and form of annual return of a company having a share capital
Part I – Contents
1.The situation of the registered office of the company and the company’s registered postal address.2.(1)If the register of members is, under this Act, kept elsewhere than at the registered office of the company, the address of the place where it is kept.(2)If any register of holders of debentures of the company or any duplicate of any such a register or part of any such register is, under the provisions of this Act, kept elsewhere than at the registered office of the company, the address of the place where it is kept.3.A summary, distinguishing between shares issued for cash and shares issued as fully or partly paid-up otherwise than in cash, specifying the following particulars—(a)the amount of the share capital of the company and the number of shares into which it is divided;(b)the number of shares taken from the commencement of the company up to the date of the return;(c)the amount called up on each share;(d)the total amount of calls received;(e)the total amount of calls unpaid;(f)the total amount of the sums (if any) paid by way of consideration in respect of any shares or debentures;(g)the discount allowed on the issue of any shares issued at a discount or so much of that discount as has not been written off at the date on which the return is made;(h)the total amount of the sums (if any) allowed by way of discount in respect of any debentures since the day of the last return;(i)the total number of shares forfeited;(j)the total amount of shares for which share warrants are outstanding at the date of the return and of share warrants issued and surrendered respectively since the date of the last return, and the number of shares comprised in each warrant.4.Particulars of the total amount of the indebtedness of the company as at the date of this return in respect of all mortgages and charges which are required to be registered with the registrar under this Act.5.A list—(a)containing the names and postal addresses of all persons who, on the fourteenth day after the company’s annual general meeting for the year, are members of the company, and of persons who have ceased to be members since the date of the last return or, in the case of the first return, since the incorporation of the company;(b)stating the number of shares held by each of the existing members at the date of the return, specifying shares transferred since the date of the last return (or, in the case of the first return, since the incorporation of the company) by persons who are still members and have ceased to be members respectively and the dates of registration of the transfers;(c)if the names aforesaid are not arranged in alphabetical order, having annexed thereto an index sufficient to enable the name of any person therein to be easily found.6.All such particulars with respect to the persons who at the date of the return are the directors of the company and any person who at that date is the secretary of the company as are by this Act required to be contained with respect to directors and the secretary respectively in the register of the directors and secretaries of a company.Part II – Form
Annual return of ___________________________________________ Limited, made up to the _________ day of ___________________, 20____, (being the fourteenth day after the date of the annual general meeting for the year 20____ ).1. Address
(Situation and postal address of the registered office of the company.)2. Situation of registers of members and debenture holders
(a)(Address of place at which the register of members is kept, if other than the registered office of the company.)(b)(Address of any place in Uganda other than the registered office of the company at which is kept any register of holders of debentures of the company or any duplicate of any such register or part of any such register which is kept outside Uganda.)3. Summary of share capital and debentures
(a)Nominal share capital.Nominal share capital shs. ____ divided into:(Insert number and class)_______________________ shares of ___________ each_______________________ shares of ___________ each_______________________ shares of ___________ each_______________________ shares of ___________ each(b)Issued share capital and debentures.| | Number | Class | |
| Number of shares of each class taken up to the date of this return (which number must agree with the total shown in the list as held by existing members) | | | shares |
| | | shares |
| | | shares |
| | | shares |
| Number of shares of each class issued subject to payment wholly in cash | | | shares |
| | | shares |
| | | shares |
| | | shares |
| Number of shares of each class issued as fully paid-up for a consideration other than cash | | | shares |
| | | shares |
| | | shares |
| | | shares |
| Number of shares issued as partly paid-up for a consideration other than cash and extent to which each such share is so paid up | | | shares issued as paid up to the extent of _____ shs. per share |
| | | shares issued as paid up to the extent of _____ shs. per share |
| | | shares issued as paid up to the extent of _____ shs. per share |
| | | shares issued as paid up to the extent of _____ shs. per share |
| | Number | Class | |
| Number of shares (if any) of each class issued at a discount | | | shares |
| | | shares |
| | | shares |
| | | shares |
| Amount of discount on the issue of shares which has not been written off at the date of this return | shs. |
| Amount called up on number of shares of each classshs. _______ per share onshs. _______ per shere on | Number | Class | |
| | | shares |
| | | shares |
| | | shares |
| | | shares |
| Total amount of calls received, including payments on application and allotment and any sums received on shares forfeited | shs. |
| | Shs. on | Number | Class | |
| Total amount (if any) agreed to be considered as paid on number of shares of each class issued as fully paid up for a consideration other than cash. | | | | shares |
| | | | shares |
| | | | shares |
| | | | shares |
| Total amount (if any) agreed to be considered as paid on number of shares of each class issued as partly paid up for a consideration other than cash. | | | | shares |
| | | | shares |
| | | | shares |
| | | | shares |
| Total amount of calls unpaid | shs. |
| Total amount of the sums (if any) paid by way of commission in respect of any shares or debentures | shs. |
| Total amount of the sums (if any) allowed by way of discount in respect of any debentures since the date of the last return | shs. |
| Total number of shares of each class forfeited | Number | Class | |
| | | shares |
| | | shares |
| | | shares |
| | | shares |
| Total amount paid (if any) on shares forfeited | shs. |
| Total amount of shares for which share warrants to bearer are outstanding | shs. |
| Total amount of share warrants to bearer issued and surrendered respectively since the date of the last return | Issued: | | shs. |
| Surrendered: | | shs. |
| Number of shares comprised in each share warrant to bearer, specifying in the case of warrants of different kinds, particulars of each kind | |
4. Particulars of indebtedness
Total amount of indebtedness of the company in respect of all mortgages and charges which are required to be registered with the registrar of companies under the Companies Act. shs. __________________________5. List of past and present members
List of persons holding shares or stock in the company on the fourteenth day after the annual general meeting for 20 ____, and of persons who have held shares or stock therein at any time since the date of the last return, or in the case of the first return, of the incorporation of the company.| Folio in register ledger containing particulars | Names and postal addresses | Account of shares | Remarks |
| Number of shares held by existing members at date of return *† | Particulars of shares transferred since the date of the last return, or, in the case of the first return, of the incorporation of the company, by (a) persons who are still members and (b) person who have ceased tp be members ‡ |
| Number † | Date of registration of transfer |
| | | | | (a) | (b) | |
Notes
1.If the return for either of the two immediately preceding years has given as at the date of that return the full particulars required as to past and present members and the shares and stock held and transferred by them, only such of the particulars need be given as relate to persons ceasing to be or becoming members since the date of the last return and to shares transferred since that date or to changes as compared with that date in the amount of stock held by a member.2.If the names in the list are not arranged in alphabetical order an index sufficient to enable the name of any person to be readily found must be annexed.6. Particulars of directors and secretaries
Particulars of the persons who are directors of the company at the date of this return.| Name (in the case of an individual, present Christian name or names and surname; in the case of a corporation, the corporate name) | Any former Christian name or names and surname | Nationality | Usual postal and residential address (in the case of a corporation, the registered of principal office) | Business occupation and particulars of other directorships | Date of birth |
| | | | | | |
| Name (in the case of an individual, present Christian name or names and surname; (in the case of a corporation the corporate name) | Any former Christian name or names and surname | Usual postal address (in the case of a corporation the registered office) |
| | | |
Notes
1.“Director” includes any person who occupies the position of a director by whatever name called, and any person in accordance with whose directions or instructions the directors of the company are accustomed to act.2.“Christian name” includes a forename, and “surname”, in the case of a peer or person usually known by a title different from his or her surname, means that title.3.“Former Christian name” and “former surname” do not include—(a)in the case of a peer or a person usually known by a British title different from his or her surname, the name by which he or she was known previous to the adoption of or succession to the title;(b)in the case of any person, a former Christian name or surname where that name or surname was changed or disused before the person bearing the name attained the age of eighteen years or has been changed or disused for a period of not less than twenty years; or(c)in the case of a married woman, the name or surname by which she was known previous to the marriage.The names of all bodies corporate incorporated in Uganda of which the director is also a director, should be given, except bodies corporate of which the company making the return is the wholly-owned subsidiary or bodies corporate which are the wholly-owned subsidiaries either of the company or of another company of which the company is the wholly-owned subsidiary. A body corporate is deemed to be the wholly-owned subsidiary of another if it has no members except that other and that other’s wholly-owned subsidiaries and its or their nominees. If the space provided in the form is insufficient, particulars of other directorships should be listed on a separate statement attached to this return.Dates of birth need only be given in the case of a company which is subject to section 186 of the Companies Act, namely, a company which is not a private company or which, being a private company, is the subsidiary of a body corporate incorporated in Uganda which is not a private company.Where all the partners in a firm are joint secretaries, the name and principal office of the firm may be stated.*Delivered for filing by _________________________*This should be printed at the bottom of the first page of the return.Certificates and other documents accompanying annual return
Certificate to be given by a director and the secretary of every private company
We certify that the company has not since the date of † (the incorporation of the company/the last annual return) issued any invitation to the public to subscribe for any shares or debentures of the company.Signed ______________________,DirectorSigned_____________________,Secretary† In the case of the first return strike out the second alternative. In the case of the second or subsequent return strike out the first alternative.Further certificate to be given as aforesaid if the number of members of the company exceeds fifty.
We certify that the excess of the number of members of the company over fifty consists wholly of persons who, under section 29(1)(b) of the Companies Act, are not to be included in reckoning the number of fifty.Signed ______________________,DirectorSigned_____________________,SecretaryCertified copies of accounts
In the case of any company to which section 128 of this Act applies, there shall be annexed to this return a written copy, certified both by a director and by the secretary of the company to be a true copy, of every balance sheet laid before the company in general meeting during the period to which this return relates (including every document required by law to be annexed to the balance sheet) and a copy (certified as aforesaid) of the report of the auditors on, and of the report of the directors accompanying, each such balance sheet. If any such balance sheet or document required by law to be annexed to it is in a foreign language, there must also be annexed to that balance sheet a translation in English of the balance sheet or document certified in the prescribed manner to be a correct translation. If any such balance sheet as aforesaid or document required by law to be annexed to it did not comply with the requirements of the law as in force at the date of the audit with respect to the form of balance sheet or documents aforesaid, as the case may be, there must be made such additions to and corrections in the copy as would have been required to be made in the balance sheet or document in order to make it comply with those requirements, and the fact that the copy has been so amended must be stated on it.Sixth Schedule (ss. 58, 149, 152, 157, 407)
Accounts
Preliminary
1.Paragraphs 2 to 11 of this Schedule apply to the balance sheet and 12 to 14 to the profit and loss account, and are subject to the exceptions and modifications provided for by Part II of this Schedule in the case of a holding company and by Part III thereof in the case of companies of the classes there mentioned; and this Schedule has effect in addition to the provisions of sections 197 and 198 of this Act.Part I – General provisions as to balance sheet and profit and loss account
Balance sheet
2.The authorised share capital, issued share capital, liabilities and assets shall be summarised, with such particulars as are necessary to disclose the general nature of the assets and liabilities, and there shall be specified—(a)any part of the issued capital that consists of redeemable preference shares, and the earliest date on which the company has power to redeem those shares;(b)so far as the information is not given in the profit and loss account, any share capital on which interest has been paid out of capital during the financial year, and the rate at which interest has been so paid;(c)the amount of the share premium account;(d)particulars of any redeemed debentures which the company has power to reissue.3.There shall be stated under separate headings, so far as they are not written off—(a)the preliminary expenses;(b)any expenses incurred in connection with any issue of share capital or debentures;(c)any sums paid by way of commission in respect of any shares or debentures;(d)any sums allowed by way of discount in respect of any debentures; and(e)the amount of the discount allowed on any issue of shares at a discount.4.(1)The reserves, provisions, liabilities and fixed and current assets shall be classified under headings appropriate to the company’s business; except that—(a)where the amount of any class is not material, it may be included under the same heading as some other class;(b)where any assets of one class are not separable from assets of another class, those assets may be included under the same heading; and(c)where any asset cannot properly be described either as “fixed” or as “current”, it shall be separately classified and described.(2)Fixed assets shall also be distinguished from current assets.(3)The method or methods used to arrive at the amount of the fixed assets under each heading shall be stated.5.(1)The method of arriving at the amount of any fixed asset shall, subject to subparagraph (2), be to take the difference between—(a)its cost or, if it stands in the company’s books at a valuation, the amount of the valuation; and(b)the aggregate amount provided or written off since the date of acquisition or valuation, as the case may be, for depreciation or diminution in value,and for the purposes of this paragraph the net amount at which any assets stand in the company’s books at the commencement of this Act (after deduction of the amounts previously provided or written off for depreciation or diminution in value) shall, if the figures relating to the period before the commencement of this Act cannot be obtained without unreasonable expense or delay, be treated as if it were the amount of a valuation of those assets made at the commencement of this Act and, where any of those assets are sold, the net amount less the amount of the sales shall be treated as if it were the amount of a valuation so made of the remaining assets.(2)Subparagraph (1) of this paragraph shall not apply—(a)to assets for which the figures relating to the period beginning with the commencement of this Act cannot be obtained without unreasonable expense or delay;(b)to assets the replacement of which is provided for wholly or partly—(i)by making provision for renewals and charging the cost of replacement against the provision so made; or(ii)by charging the cost of replacement direct to revenue;(c)to any investments of which the market value (or, in the case of investments not having a market value, their value as estimated by the directors) is shown either as the amount of the investments or by way of note; or(d)to goodwill, patents or trademarks.(3)For the assets under each heading whose amount is arrived at in accordance with subparagraph (1) of this paragraph, there shall be shown—(a)the aggregate of the amounts referred to in paragraph (a) of that subparagraph; and(b)the aggregate of the amounts referred to in paragraph (b) thereof.(4)As respects the assets under each heading whose amount is not arrived at in accordance with subparagraph (1) of this paragraph because their replacement is provided for as mentioned in subparagraph (2)(b) of this paragraph, there shall be stated—(a)the means by which their replacement is provided for; and(b)the aggregate amount of the provision (if any) made for renewals and not used.6.The aggregate amounts respectively of capital reserves, revenue reserves and provisions (other than provisions for depreciation, renewals or diminution in value of assets) shall be stated under separate headings; except that—(a)this paragraph shall not require a separate statement of any of those three amounts which is not material; and(b)the registrar may direct that it shall not require a separate statement of the amount of provisions where he or she is satisfied that that is not required in the public interest and would prejudice the company, but subject to the condition that any heading stating an amount arrived at after taking into account a provision (other than as aforesaid) shall be so framed or marked as to indicate that fact.7.(1)There shall also be shown (unless it is shown in the profit and loss account or a statement or report annexed to that account, or the amount involved is not material)—(a)where the amount of the capital reserves, of the revenue reserves or of the provisions (other than provisions for depreciation, renewals or diminution in value of assets) shows an increase as compared with the amount at the end of the immediately preceding financial year, the source from which the amount of the increase has been derived; and(b)where—(i)the amount of the capital reserves or of the revenue reserves shows a decrease as compared with the amount at the end of the immediately preceding financial year; or(ii)the amount at the end of the immediately preceding financial year of the provisions (other than provisions for depreciation, renewals or diminution in value of assets) exceeded the aggregate of the sums since applied and amounts still retained for the purposes thereof, the application of the amounts derived from the difference.(2)Where the heading showing any of the reserves or provisions aforesaid is divided into subheadings, this paragraph shall apply to each of the separate amounts shown in the subheadings instead of applying to the aggregate amount thereof.8.(1)There shall be shown under separate headings—(a)the aggregate amounts respectively of the company’s trade investments, quoted investments other than trade investments and unquoted investments other than trade investments;(b)if the amount of the goodwill and of any patents and trademarks or part of that amount is shown as a separate item in or is otherwise ascertainable from the books of the company, or from any contract for the sale or purchase of any property to be acquired by the company, or from any documents in the possession of the company relating to the stamp duty payable in respect of any such contract or the conveyance of any such property, that amount so shown or ascertained so far as not written off or, as the case may be, the amount so far as it is so shown or ascertainable and as so shown or ascertained, as the case may be;(c)the aggregate amount of any outstanding loans made under the authority of section 56(2)(b) and (c) of this Act;(d)the aggregate amount of bank loans and overdrafts;(e)the net aggregate amount (after deduction of income tax) which is recommended for distribution by way of dividend.(2)Nothing in paragraph 8(1)(b) of this Part of this Schedule shall be taken as requiring the amount of the goodwill, patents and trademarks to be stated otherwise than as a single item.(3)The heading showing the amount of the quoted investments other than trade investments shall be subdivided, where necessary, to distinguish the investments as respects which there has, and those as respects which there has not, been granted a quotation or permission to deal on a stock exchange of repute.9.Where any liability of the company is secured otherwise than by operation of law on any assets of the company, the fact that that liability is so secured shall be stated, but it shall not be necessary to specify the assets on which the liability is secured.10.Where any of the company’s debentures are held by a nominee of or trustee for the company, the nominal amount of the debentures and the amount at which they are stated in the books of the company shall be stated.11.(1)The matters referred to in subparagraphs (2) to (11) shall be stated by way of note, or in a statement or report annexed, if not otherwise shown.(2)The number, description and amount of any shares in the company which any person has an option to subscribe for, together with the following particulars of the option—(a)the period during which it is exercisable;(b)the price to be paid for shares subscribed for under it.(3)The amount of any arrears of fixed cumulative dividends on the company’s shares and the period for which the dividends or, if there is more than one class, each class of them are in arrear, the amount to be stated before deduction of income tax, except that in the case of tax-free dividends, the amount shall be shown free of tax and the fact that it is so shown shall also be stated.(4)Particulars of any charge on the assets of the company to secure the liabilities of any other person, including, where practicable, the amount secured.(5)The general nature of any other contingent liabilities not provided for and, where practicable, the aggregate amount or estimated amount of those liabilities, if it is material.(6)Where practicable, the aggregate amount or estimated amount, if it is material, of contracts for capital expenditure, so far as not provided for.(7)If in the opinion of the directors any of the current assets have not a value, on realisation in the ordinary course of the company’s business, at least equal to the amount at which they are stated, the fact that the directors are of that opinion.(8)The aggregate market value of the company’s quoted investments, other than trade investments, where it differs from the amount of the investments as stated, and the stock exchange value of any investments of which the market value is shown (whether separately or not) and is taken as being higher than their stock exchange value.(9)The basis on which foreign currencies have been converted into East African currency, where the amount of the assets or liabilities affected is material.(10)The amount or the estimated amount of any liability to income tax in respect of the profits made by the company to the date of the balance sheet, together with the basis on which such amount, if any, set aside for income tax is computed.(11)Except in the case of the first balance sheet laid before the company after the commencement of this Act, the corresponding amounts at the end of the immediately preceding financial year for all items shown in the balance sheet.Profit and loss account
12.(1)There shall be shown—(a)the amount charged to revenue by way of provision for depreciation, renewals or diminution in value of fixed assets;(b)the amount of the interest on the company’s debentures and other fixed loans;(c)the amount of the charge for income tax and any other taxation on profits to date;(d)the amounts respectively provided for redemption of share capital and for redemption of loans;(e)the amount, if material, set aside or proposed to be set aside to, or withdrawn from, reserves;(f)subject to subparagraph (2) of this paragraph, the amount, if material, set aside to provisions other than provisions for depreciation, renewals or diminution in value of assets or, as the case may be, the amount, if material, withdrawn from such provisions and not applied for the purposes thereof;(g)the amount of income from investments, distinguishing between trade investments and other investments;(h)the aggregate amount of the dividends paid and proposed.(2)The registrar may direct that a company shall not be obliged to show an amount set aside to provisions in accordance with subparagraph (f) of this paragraph, if he or she is satisfied that that is not required in the public interest and would prejudice the company, but subject to the condition that any heading stating an amount arrived at after taking into account the amount set aside as aforesaid shall be so framed or marked as to indicate that fact.13.If the remuneration of the auditors is not fixed by the company in general meeting, the amount thereof shall be shown under a separate heading, and for the purposes of this paragraph, any sums paid by the company in respect of the auditors’ expenses shall be deemed to be included in the word “remuneration”.14.(1)The matters referred to in subparagraphs (2) to (6) shall be stated by way of note, if not otherwise shown.(2)If depreciation or replacement of fixed assets is provided for by some method other than a depreciation charge or provision for renewals, or is not provided for, the method by which it is provided for or the fact that it is not provided for, as the case may be.(3)The basis on which the charge for income tax is computed.(4)Whether or not the amount stated for dividends paid and proposed is for dividends subject to deduction of income tax.(5)Except in the case of the first profit and loss account laid before the company after the commencement of this Act, the corresponding amounts for the immediately preceding financial year for all items shown in the profit and loss account.(6)Any material respects in which any items shown in the profit and loss account are affected—(a)by transactions of a sort not usually undertaken by the company or otherwise by circumstances of an exceptional or nonrecurrent nature; or(b)by any change in the basis of accounting.Part II – Special provisions where the company is a holding or subsidiary company
Modifications of and additions to requirements as to company’s own accounts
15.(1)This paragraph shall apply where the company is a holding company, whether or not it is itself a subsidiary of another body corporate.(2)The aggregate amount of assets consisting of shares in, or amounts owing (whether on account of a loan or otherwise) from, the company’s subsidiaries, distinguishing shares from indebtedness, shall be set out in the balance sheet separately from all the other assets of the company, and the aggregate amount of indebtedness (whether on account of a loan or otherwise) to the company’s subsidiaries shall be so set out separately from all its other liabilities and—(a)the references in Part I of this Schedule to the company’s investments shall not include investments in its subsidiaries required by this paragraph to be separately set out; and(b)paragraphs 5, 12(1)(a), and 14(2) of this Schedule shall not apply in relation to fixed assets consisting of interests in the company’s subsidiaries.(3)There shall be shown by way of note on the balance sheet or in a statement or report annexed thereto the number, description and amount of the shares in and debentures of the company held by its subsidiaries or their nominees, but excluding any of those shares or debentures in the case of which the subsidiary is concerned as personal representative or in the case of which it is concerned as trustee and neither the company nor any subsidiary thereof is beneficially interested under the trust, otherwise than by way of security only for the purposes of a transaction entered into by it in the ordinary course of a business which includes the lending of money.(4)Where group accounts are not submitted, there shall be annexed to the balance sheet a statement showing—(a)the reasons why subsidiaries are not dealt with in group accounts;(b)the net aggregate amount, so far as it concerns members of the holding company and is not dealt with in the company’s accounts, of the subsidiaries’ profits after deducting the subsidiaries’ losses (or vice versa)—(i)for the respective financial years of the subsidiaries ending with or during the financial year of the company; and(ii)for their previous financial years since they respectively became the holding company’s subsidiary;(c)the net aggregate amount of the subsidiaries’ profits after deducting the subsidiaries’ losses (or vice versa)—(i)for the respective financial years of the subsidiaries ending with or during the financial year of the company; and(ii)for their other financial years since they respectively became the holding company’s subsidiary, so far as those profits are dealt with, or provision is made for those losses, in the company’s accounts;(d)any qualifications contained in the report of the auditors of the subsidiaries on their accounts for their respective financial years ending as aforesaid, and any note or saving contained in those accounts to call attention to a matter which, apart from the note or saving, would properly have been referred to in such a qualification, insofar as the matter which is the subject of the qualification or note is not covered by the company’s own accounts and is material from the point of view of its members,or, insofar as the information required by this subparagraph is not obtainable, a statement that it is not obtainable; except that the registrar may, on the application or with the consent of the company’s directors, direct that in relation to any subsidiary this subparagraph shall not apply or shall apply only to such extent as may be provided by the direction.(5)Subparagraph (4)(b) and (c) shall apply only to profits and losses of a subsidiary which may properly be treated in the holding company’s accounts as revenue profits or losses, and the profits or losses attributable to any shares in a subsidiary for the time being held by the holding company or any other of its subsidiaries shall not (for that or any other purpose) be treated as aforesaid so far as they are profits or losses for the period before the date on or as from which the shares were acquired by the company or any of its subsidiaries, except that they may in a proper case be so treated where—(a)the company is itself the subsidiary of another body corporate; and(b)the shares were acquired from that body corporate or a subsidiary of it,and for the purposes of determining whether any profits or losses are to be treated as profits or losses for that period, the profit or loss for any financial year of the subsidiary may, if it is not practicable to apportion it with reasonable accuracy by reference to the facts, be treated as accruing from day to day during that year and be apportioned accordingly.(6)Where group accounts are not submitted, there shall be annexed to the balance sheet a statement showing, in relation to the subsidiaries (if any) whose financial years did not end with that of the company—(a)the reasons why the company’s directors consider that the subsidiaries’ financial years should not end with that of the company; and(b)the date on which the subsidiaries’ financial years ending last before that of the company respectively ended or the earliest and latest of those dates.16.(1)The balance sheet of a company which is a subsidiary of another body corporate, whether or not it is itself a holding company, shall show the aggregate amount of its indebtedness to all bodies corporate of which it is a subsidiary or a fellow subsidiary and the aggregate amount of the indebtedness of all such bodies corporate to it, distinguishing in each case between indebtedness in respect of debentures and otherwise.(2)For the purposes of this paragraph, a company shall be deemed to be a fellow subsidiary of another body corporate if both are subsidiaries of the same body corporate but neither is the other’s.Consolidated accounts of holding company and subsidiaries
17.Subject to paragraphs 18 to 22 of this Part of this Schedule, the consolidated balance sheet and profit and loss account shall combine the information contained in the separate balance sheets and profit and loss accounts of the holding company and of the subsidiaries dealt with by the consolidated accounts, but with such adjustments (if any) as the directors of the holding company think necessary.18.Subject as aforesaid and to Part III of this Schedule, the consolidated accounts shall, in giving the information referred to in paragraph 17, comply, so far as practicable, with the requirements of this Act as if they were the accounts of an actual company.19.Sections 197 and 198 of this Act shall not, by virtue of paragraphs 17 and 18, apply for the purpose of the consolidated accounts.20.Paragraph 7 of this Schedule shall not apply for the purpose of any consolidated accounts laid before a company with the first balance sheet so laid after the commencement of this Act.21.In relation to any subsidiaries of the holding company not dealt with by the consolidated accounts—(a)Paragraph 15(2) and (3) of this Schedule shall apply for the purpose of those accounts as if those accounts were the accounts of an actual company of which they were subsidiaries; and(b)there shall be annexed the like statement as is required by paragraph 15(4) where there are no group accounts, but as if references therein to the holding company’s accounts were references to the consolidated accounts.22.In relation to any subsidiaries (whether or not dealt with by the consolidated accounts), whose financial years did not end with that of the company, there shall be annexed the like statement as is required by paragraph 15(6) of this Schedule where there are no group accounts.Part III – Exception for scheduled banks and for insurance companies
23.(1)So long as any scheduled bank complies with the requirements of any enactment in force in the country of the incorporation of such bank relating to the keeping of accounts by a banking company, it shall not be subject to the requirements of Part I of this Schedule; but if the Minister is satisfied that any scheduled bank is not complying with the requirements of any such enactment of its country of incorporation, he or she may by order direct that such bank shall comply with the requirements of Part I of this Schedule.(2)For the purposes of this Part of this Schedule, “scheduled bank” means—(a)Bank of Baroda, Limited;(b)Bank of India, Limited;(c)Barclays Bank (D.C.& O.);(d)National Bank of India, Limited;(e)Nederlandsche Handel-Maalschappi, N.V. (Netherlands Trading Company); and(f)Standard Bank of South Africa, Limited.24.A company carrying on insurance business under the Insurance Act, which is subject to the requirements of that Act as respects the preparation and deposit with the Uganda Insurance Commission of a balance sheet and profit and loss account, shall not, so long as it complies with those requirements, be subject to the requirements of Part I of this Schedule, other than—(a)as respects its balance sheet those of paragraphs 2 and 3, paragraph 4 (so far as it relates to fixed and current assets), paragraph 8 (except subparagraphs (1)(a) and (d) and (3)), paragraphs 9 and 10 and paragraph 11 (except subparagraphs (4) to (8) inclusive and subparagraph (10); and(b)as respects its profit and loss account, those of paragraphs 12(1)(h), 13 and 14(1), (4) and (5).Part IV – Interpretation of the Schedule
25.(1)For the purposes of this Schedule, unless the context otherwise requires—(a)subject to subparagraph (2) of this paragraph, “provision” means any amount written off or retained by way of providing for depreciation, renewals or diminution in value of assets or retained by way of providing for any known liability of which the amount cannot be determined with substantial accuracy;(b)subject as aforesaid, “reserve” shall not include any amount written off or retained by way of providing for depreciation, renewals or diminution in value of assets or retained by way of providing for any known liability;(c)“capital reserve” shall not include any amount regarded as free for distribution through the profit and loss account and “revenue reserve” shall mean any reserve other than a capital reserve, and in this paragraph, “liability” includes all liabilities in respect of expenditure contracted for and all disputed or contingent liabilities.(2)Where—(a)any amount written off or retained by way of providing for depreciation, renewals or diminution in value of assets, not being an amount written off in relation to fixed assets before the commencement of this Act; or(b)any amount retained by way of providing for any known liability, is in excess of that which in the opinion of the directors is reasonably necessary for the purpose, the excess shall be treated for the purposes of this Schedule as a reserve and not as a provision.26.For the purposes aforesaid, “quoted investment” means an investment as respects which there has been granted a quotation or permission to deal on any stock exchange of repute and “unquoted investment” shall be construed accordingly.Seventh Schedule (s. 162)
Matters to be expressly stated in the auditors’ report
1.Whether they have obtained all the information and explanations which to the best of their knowledge and belief were necessary for the purposes of their audit.2.Whether, in their opinion, proper books of account have been kept by the company, so far as appears from their examination of those books, and proper returns adequate for the purposes of their audit have been received from branches not visited by them.3.(1)Whether the company’s balance sheet and (unless it is framed as a consolidated profit and loss account) profit and loss account dealt with by the report are in agreement with the books of account and returns.(2)Whether, in their opinion and to the best of their information and according to the explanations given them, the accounts give the information required by this Act in the manner so required and give a true and fair view—(a)in the case of the balance sheet, of the state of the company’s affairs as at the end of its financial year; and(b)in the case of the profit and loss account, of the profit or loss for its financial year,or, as the case may be, give a true and fair view thereof subject to the nondisclosure of any matters (to be indicated in the report) which by virtue of Part III of the Sixth Schedule to this Act are not required to be disclosed.(3)In the case of a holding company submitting group accounts whether, in their opinion, the group accounts have been properly prepared in accordance with the provisions of this Act so as to give a true and fair view of the state of affairs and profit or loss of the company and its subsidiaries dealt with thereby, so far as concerns members of the company, or, as the case may be, so as to give a true and fair view thereof subject to the nondisclosure of any matters (to be indicated in the report) which by virtue of Part III of the Sixth Schedule to this Act are not required to be disclosed.Eighth Schedule (s. 312)
Provisions of this Act which do not apply in the case of a winding up subject to supervision of the court
| Section | Subject matter |
| 235. | Statement of the company’s affairs to be submitted to the official receiver. |
| 236. | Report by the official receiver. |
| 237. | Power of the court to appoint liquidators. |
| 238. | Appointment and powers of a provisional liquidator. |
| 239. | Appointment, style, etc. of liquidators. |
| 240. | Provisions where a person other than the official receiver is appointed liquidator. |
| 241. | General provisions as to liquidators. (Except subsection (5)). |
| 245. | Exercise and control of the liquidator’s powers. |
| 246. | Books to be kept by the liquidator. |
| 247. | Payments by the liquidator to the official receiver of a bank. |
| 248. | Audit of the liquidator’s accounts. |
| 249. | Control over liquidators. |
| 250. | Release of liquidators. |
| 251. | Meetings of creditors and contributories to determine whether a committee of inspection shall be appointed. |
| 252. | Constitution and proceedings of a committee of inspection. |
| 253. | Powers of a committee of inspection in the absence of a committee. |
| 261. | Appointment of a special manager. |
| 268. | Power to order public examination of promoters and officers. |
| 271. | Delegation to the liquidator of certain powers of the court. |
| 351. | Power to appoint the official receiver as receiver for debenture holders or creditors. |
Ninth Schedule (ss. 390, 407)
Form of statement to be published by insurance companies and deposit, provident or benefit societies
The share capital of the company is ____________________________, divided into ______ shares of ___________________________ each.*The number of shares issued is _____________________________________.Calls to the amount of ________ shillings per share have been made, under which the sum of ______________ shillings has been received.The liabilities of the company on the first day of January (or July) were—Debts owing to sundry persons by the company—On decree, shs.On notes or bills, shs.On contracts, shs.On estimated liabilities, shs. The assets of the company on that day were—Government securities (stating them).Bills of exchange and promissory notes, shs.Cash at the bankers, shs.Other securities, shs.*If the company has no share capital, the portion of the statement relating to capital and shares must be omitted.Tenth Schedule (s. 396)
Provisions referred to in section 396 of this Act
| Section or provision of Schedule | Subject matter |
| 16. | Evidence of compliance with registration requirements. |
| 31. | Statement in lieu of prospectus to be delivered to the registrar by a company on ceasing to be a private company. |
| 39. | Matters to be stated and reports to be set out in a prospectus. |
| 50. | Prohibition of allotment in certain cases unless statement in lieu of a prospectus is delivered to the registrar. |
| 54. | Return as to allotments. |
| 96. | Registration of charges. |
| 97(1). | Duty of a company to register charges created by the company. |
| 98. | Duty of a company to register charges existing on property acquired. |
| 111. | Restrictions on commencement of business. |
| 126. | Particulars in annual return of company not having a share capital. (Except subsection (1)(a)). |
| 129. | Certificates to be sent by a private company with the annual return. |
| 130. | Statutory meeting and statutory report. |
| 162(1), (3). | Auditors’ report and right to information and explanations. |
| 182. | Restrictions on appointment or advertisement of directors. |
| 303. | Notice by a liquidator of his or her appointment. |
| 355(2). | Abstract of receiver’s receipts and payments. |
| 357. | Delivery to registrar of accounts of receivers and managers. |
| 370. | Documents, etc. to be delivered to the registrar by foreign companies carrying on business in Uganda. |
| 372. | Returns to be delivered to the registrar by a foreign company. |
| 374. | Accounts of a foreign company. |
| 375. | Obligation to state name of a foreign company, whether limited and country where incorporated. |
