Companies with share capital must file a director declaration and office verification before commencing business; penalties and name removal apply. Prior to its omission, Section 11 required companies with share capital to file a director's declaration confirming payment for subscribed shares and that paid-up capital met minimum thresholds, and to file verification of the registered office with the Registrar before commencing business or exercising borrowing powers; noncompliance attracted penalties on the company and officers and authorized the Registrar to initiate removal of the company's name if no declaration was filed within 180 days and the company appeared inactive.