public company

What is a public company

It is a commercial company whose shareholders secure a portion of its share capital and the capital shall be split into shares.

How is the registration of publicly listed companies being done

The minimum of 5 individuals and capital of 5 million Rial, 2 inspectors, choosing 2 types of mass-circulation newspapers, underwriting stages and 35% of 20% asset provided by the founders must be frozen at the bank

What are the stages of the registration of a public company

For this company, there must be 5 shareholders and a value of 5000000 Rial and an account shall be opened after the signature of the statutory assembly and arrangement of articles of association, 35% of 20% asset be frozen at the bank. Next, one copy of the underwriting form shall be printed in a mass-circulation newspaper and presented to the bank. In case that the stocked was purchased at the determined deadline, 80% of stock shall be returned to the shareholders.

How long is it required for the registration of a public company

At least 2 months. One month for underwriting and 1 month for performing registration affaires at a Company Registration Office.

What positions are there in the public company

The main members of boards of directors, company inspectors, vice chairman of the board, the main member of boards of directors, substitute member of boards of directors, CEO, substitute members of boards of directors, chairman.

What is the minimum level of individuals (quorum) at a public company

More than half of the shares possessing the right to vote and observing clause 101 of commercial law.

How many individuals are required for the establishment of a public company

7 Individuals (5 Individuals on the Board of Directors and 2 Inspectors)

Who can be outside of the shareholders at a public company

CEO and Inspectors

Is stock transfer permitted at a public company

Yes

Is it possible to issue securities at a public company

Yes

Name the pillars of a public company

Extraordinary general assymbly, statutory general assembly and general assymbly, and the boards of directors shall be elected among the partners.

How is the right to vote at a public company

The right to vote for each shareholder shall be determined in accordance with partner’s share

Who is liable for the non-cash contributions

Licensed Justice Ministry Professional

Is limiting manager’s scope of authority at the letters of the association being adducible toward the third parties

Are managers prohibited to compete with the company

Yes

What kind of effect shall the death of one the partners have on the assemblies at a public company

It has no effect

What is the manner in which capital is being split at a public company

Number of shares possessing same face value.

How much is the minimum capital

5,000,000 Rial

How much is required for founders to pay out of the capital at a public company

35% of the 20% capital provided by them.

Is it required for a declaration to be signed by all the founders

Yes

Which organization does issue a license for underwriting

Securities and Exchange Organization

Where is the announcement place for underwriting prospectus

The bank where 35% of the capital has been frozen.

How is the underwriting

Company Name
Full Identity and Founders’ Residence
Company Subject
The Value of Capital and Its Sepration
Number of Inscribed Stock, Registered Stock and Nominal Value
The Level of commitment to Each of the Founders
Main Centre of the Company
Company Life

What are the essential contents of the company share commitment form

Company name and registration number of capital value paid, type of share of face value paid and the number of shares at the certificare of each representative.

What is the share

A share is a portion of the capital of a joint stock company which defines the extent of participation, liabilities and entitlement to the profit of its holder in such joint stock company

What are the requirements for issuing securities

All the registered capitals must be remitted
2 years must past from the registration date
Balance sheet must be approved by the general assembly

What is the order for issuing securities

To make a decision on sale and condition of the issuance, issue and the plan for the issue announcement must be declared to the Company Registration Office and advertisement shall be announced in the Official Gazette by the Company Registration Office

What are the documents required for the registration of a public company

Articles of association, funders’ general assembly minute and acceptance declaration of positions of managers and inspectors

What is the deadline for registering and performance bond of a public company registration

6 months after the date of the declaration being submitted.

In a public company, is it possible to use the remittance (remitted funds) for a company being at the brink of the establishment

No, it is not possible. Except for the time after registration or issuance of a license for non-registration of the company.

Who is liable for the prohibition of the temporary license issuance and share certificate prior to the registration

Signatories

What is the temporary license of a share certificate

Until the issuance of a stock certificate, It shall have the force of share certificate.

Is it possible to issue the temporary license on the share certificate prior to the company registration

How much is the maximum face value of a share at a public company

10000 Rial

What are the requirements for share issuance by non-registered temporary license

The entire face value of each share must be paid

Is it possible to split the stock

They must be divided equally

In the case of non-payment for the stock value, what measures must be taken

The extraordinary general assembly must reduce the capital to the amount paid

How is it possible to convert the stock

In virtue of regulations at the articles of association or extraordinary general assembly decision

What is the process of converting non-registered stock to the registered stock

3 times of announcement in a mass-circulation newspaper within 5 days, 6 months must past from the first publication of the announcement