Thursday 12 July 2012

Certificate of Incorporation

Wikipedia defines Certificate of Incorporation as a legal document relating to the formation of a company or cooperation. Translating Certificate of Incorporation gives me the challenge and allows me to learn new legal words. I have done quite a number of certificate of incorporation for clients and even sworn translators. Here is a sample. As always , I can't show the whole document : 

 
-Parties present that they together have stated, without undermining the consent of authorities, have agreed and approved to establish a limited liability company with articles of association (hereinafter referred to as “Articles of Association”) as set forth in this deed: 

NAME AND DOMICILE (ARTICLE 1)
         The limited liability is named “PT. MENTARI RAMBUANG INTERNATIONAL” (hereinafter referred to as “Company”), domiciled in South Jakarta;
       The company may open branch (es) or representative office (s) as approved by the Board of Directors of the Company within the territory of the Republic of Indonesia or outside of the territory of the Republic of Indonesia.




PERIOD OF ESTABLISHMENT (ARTICLE 2)
The company is established for an unlimited period of time

PURPOSES AND OBJECTIVES (ARTICLE 3)
1     The purpose of the company is
- Oil and Gas
2    To achieve the purposes and objectives abovementioned, the company reserves the right to conduct the following activities:
-Exploration and drilling, field development, production, construction of transportation facilities, storage and procession for separation and refining of oil and gas in the field.

CAPITAL (ARTICLE 4)
1    The principal capital of the Company amounts to Rp. xxxx  ( xxxx hundred million Rupiah) divided into 800 (eight hundred) shares of nominal value Rp. xxxx (xxxx hundred thousand Rupiah).
2     From the principal capital abovementioned have been placed and deposited 25% (twenty five percent) or 200 (two hundred) shares with a total nominal value of Rp. xxxx,- (xxx hundred million Rupiah) by shareholders that have taken part of the shares with a detailed nominal shares mentioned in this deed.
3    Shares which are still kept, will be issued depending on the needs of working capital for the Company, with approval from General Meeting of Shareholders.
-All shareholders are registered in the Shareholder Register and have the rights to withdraw part of shares owned within a period of 14 (fourteen) days from the date of issuance and each shareholders have the rights to withdraw proportional to the number of shares each shareholder owned, either to the number of shares owned or to the remaining shares not taken by other shareholders.
-If after the issuance period of 14 (fourteen) days, there are remaining shares that have not yet been taken thereby the Board of Directors have the right to offer the remaining shares to third party.
 

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