Describe the ways in which a corporation may be established

Describe the ways in which a corporation may be established

ANSWER

1. By registration: these are companies incorporated pursuant to the provisions of the Companies Act. Their creation is evidenced by a certificate of incorporation. The company may be public or private.
2. By statute: these are corporations created by Acts of parliament. The Act establishes the body, gives it a name and prescribes its objects. E.g. Kenya Wildlife Services, Kenya Revenue Authority.
3. By charter: these are private universities that have been given a charter in accordance with the Universities Act., e.g. Catholic University for Eastern Africa.