What Constitutes Membership or Shareholding of a Company in Uganda?
When is one a shareholder or member of a company? This issue was recently considered by the Supreme Court of Uganda in Matthew Rukikaire v Incafex Limited, which ruled that a person who has not fully paid up their shares may be considered a member and shareholder of a company with rights to full participation in the affairs of the company to the extent allowed by the types of shares they hold. In addition, companies are responsible for concluding the registration of members by entering their names into the members’ register. The consequences of failing to execute this duty cannot and will not be visited on unregistered members.
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