Section 287: Registration as limited life company

287. Registration as limited life company (1) An application may be made to the Registrar for the registration of a company as a limited life company at the time of incorporation, or at the time of applying for continuation under Part XXV or at any other time after incorporation or registration by way of continuation. (2) An application in respect of a company to which a certificate of incorporation under section 24 or a certificate of registration by way of continuation under section 299 has been issued, shall be accompanied by a certified copy of the relevant extract of its constitution limiting the life or duration of the company to a period not exceeding 50 years from the date of incorporation or, where necessary of a resolution of the company altering its constitution for that purpose. (3) The Registrar shall register the company to which the application refers as a limited life company where immediately on incorporation or registration— (a) the company satisfies the requirements of section 289; (b) the company has at least one subscriber or shareholder; and (c) the constitution of the company limits the life of the company to a period not exceeding 50 years from the date of its incorporation. (4) On registering a company as a limited life company, the Registrar shall certify in the certificate of incorporation issued under section 25 or in the certificate of registration by way of continuation issued under section 299 that the company is registered as a limited life company, stating the date of the registration. [S. 287 amended by s. 5 (d) of Act 18 of 2008 w.e.f. 19 July 2008.] C35 – 173 [Issue 9] Companies Act