The registration processes of these companies are relatively similar however with minor adjustments to suit the particular company being registered. We are focusing on how to register a co-operative company in Zimbabwe.
Lets start by defining a co-operative company and the best place to derive the definition is from the Zimbabwean Companies Act (Chapter 23:4).
(1 ) A co-operative company is a company, other than a private company, which—
(a ) in its memorandum states that its main object is one or other or both of the following — (i) the provision for its members of a service facilitating the production or marketing of agricultural produce or livestock; (ii) the sale of goods to its members; and
(b ) by its articles— (i) restricts the right to transfer its shares; and (ii) provides that its ordinary shares shall be of one class only; and (iii) subject to section thirty-nine, fixes a limit to the number of shares which may be held by any one member; and (iv) regulates the voting rights of its members in accordance with section thirty-nine; and (v) limits the dividend which may be paid on its shares to a rate not exceeding ten per centum per annum on the amounts paid up thereon; and (vi) provides for the distribution of a part or the whole of its profits amongst its members on the basis of certain or all of their business transactions with the company.
(2 ) With the sanction of a special resolution and subject to confirmation by the court, a public company, which is not a co -operative company, may convert itself into a co-operative company.
(3 ) For the purposes of paragraph (a) of subsection (1)— “member”, in relation to a co-operative company, includes any person who is a member of a co-operative company which is a member of the first-mentioned co-operative company.
Co-operative Company Registration Procedure
Here is the step by step registration process of registering a co-operative company.
1. Name Search
The first stage is applying for a company name search for company name reservation. The name search used to be done on a C.R. 21 Form but it has since changed since the introduction of the online portal. This is relatively difficult to do for most individuals and its very much advisable to do the company name search through our consultant or umojalands
2. Memorandum And Articles of Association Preparation And Signing.
The shareholders sign the memorandum and articles of association. A Memorandum of Association defines the relationship of the company and its shareholders. An Articles of Association specifies the regulations for a company’s operations and defines the company’s purpose. The documents are prepared by umojalands.
3. C.R 6 Preparation And Signing.
The company director or secretary sign the C.R 6 Form. A C.R 6 Form states the company’s registered office address. If the company does not have an office as yet, you can use a home address.
4. C.R 14 Preparation And Signing.
The company director or secretary sign the C.R 14 Form. A C.R 14 Form lists the company’s directors and secretary’s.
The company documents, that is, memorandum and articles of association, C.R 6 and C.R 14 are submitted to the companies registrars’ office. The registrar issues a Certificate of Incorporation as proof of a registered company.
Start Build your Co-op today with umojalands , contact us Email email@example.com or cell +263 778757486 or visit our offices SSC building, Shop number 1, Corner Parkland & Central avenue, Harare.