Restrictions on commencement of business: statutory preconditions and filings required before a company with share capital may begin trading. Restrictions require companies with share capital to meet statutory preconditions before commencing business or borrowing: where a prospectus is issued, the company must achieve the minimum subscription, ensure directors pay prescribed proportions on their shares, prevent repayment liabilities for failure to obtain dealing permission, and file a duly verified declaration with the Registrar; where no prospectus is issued, a statement in lieu of prospectus and the directors' payments plus a verified declaration must be filed. The Registrar's certificate is conclusive and contracts made before entitlement are provisional.