Kofi, a Togolese, Tunde and Segun are desirous of forming a company for the purpose of constructing low cost houses for interested members of their community in Nigeria. The three friends have chosen the name KTS Building Society Limited as the name of the company.
Required:
(a) State FIVE legal requirements which the foreigner, Kofi, must comply with before he can join in the formation of the company.
(b) Advise the parties on the propriety of choosing the name KTS Building Society Limited.
(c) What steps should be taken if the company intends to change its name after registration?