Seal 

42.   (a) Every company shall have a registered seal. 

        (b) Any contract which is required by lay to be in writing, if made by a company, shall be in writing under its seal. 

Commencement of business 

43.   (a) A private company may, upon its registration as stated in section 7 of this Act, commence its business as prescribed by the regulations made under this Act. 

       (b) A public company may commence business only after getting registered as a public company under this Act, and upon issuing a prospectus as stated in section 24 of this Act and the company allots shares to the public to the minimum level stipulated in the prospectus and receives payment for the allotted shares and the Directors of the company pays and submit to the registrar evidence of the payment for their shares and the registrar of companies gives permission to commence the business. 
 
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