S.L. 386.25 Art. 7Conformity with the provisions of the Act.     Cap. 529.

(1) The Registrar shall ensure that every online formation of a company complies with the provisions of the Act relating to the formation of companies including:

(a) procedures to ensure that the applicants have the necessary legal capacity and authority to represent the company;

(b) means to verify the identity of the applicants through the appropriate electronic identification means;

(c) requirements for the applicants to use trust services referred to in Regulation (EU) No 910/2014;

(d) procedures to verify the legality of the object of (USE OF DIGITAL TOOLS AND PROCESSES)

the company;

(e) procedures to verify the legality of the name of the company; and

(f) procedures to verify the appointment of directors.

(2) The foregoing requirements may also include the following:

(a) procedures to ensure the legality of the company’s memorandum and articles of association, including the correct use of templates;

(b) consequences of the disqualification of a director;

(c) the role of the company service provider or other authorised person responsible for any aspect relating to the online formation of a company in accordance with the

Company Service Providers Act; and, or

(d) the exclusion of online formation where the share capital of the company is paid by way of contributions in kind.