Effect of registration 

15.  (a) The company upon registration shall become a legal entity distinct from its members by the name contained in the memorandum of association  capable of forthwith exercising all the powers and functions specified in its memorandum and articles of association and of suing and being sued and having a perpetual succession and a common seal with the power to hold movable property and immovable property as is permitted by law. 

      (b) The memorandum and articles of association of a company, when registered, bind the company and its members to the same extent as if they respectively had been signed by each member, and contained covenants on the part of each member to observe all the provisions of the memorandum and of the articles. 

Register of members 

16.   (a) Every company shall keep a register of its members and enter in it the following particulars: 
  the name and addresses of the members 
  the number of shares held by each member, and 
  the amount paid on the shares of each member 

       (b) Every person whose name appear in the registry stated in sub-section (a) of this section shall be a member of the company. 
 
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