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of <h1>Section 11 Omission: Companies No Longer Need Initial Business Declarations and Share Capital Verification for Registration</h1> Section 11 of the Companies Act, 2013, which was omitted by the Companies (Amendment) Act, 2015, originally required that a company with share capital could not commence business or exercise borrowing powers without fulfilling certain conditions. These included filing a director's declaration with the Registrar confirming that subscribers had paid for their shares and that the company's paid-up share capital met specified minimum thresholds. Additionally, the company had to verify its registered office. Non-compliance could result in penalties for the company and its officers, and failure to file the declaration within 180 days could lead to the company being struck off the register.
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