Statement

Yes, it is correct. The following is from an ACCA page (admittedly, it’s the ACCA quoting from the Companies Act 2011 from Lesotho, but it seems to encapsulate the English position very well!)

Under the common law a person who merely acts in a professional capacity for a company, which is being formed, is not regarded a promoter. Thus, a lawyer, who draws up articles of incorporation of a proposed company, is not a promoter. Similarly, an accountant or a valuer who assists a proposed company in his professional capacity, for instance, by preparing accounts, will not be regarded a promoter. However, if any such person helps the formation of a company by performing services that go beyond the scope of their professional duties, the person will be classified as a promoter. In short, whether a person is, or is not, a promoter remains essentially a question of fact to be determined by the courts. Much depends upon the nature of the role a person performs with respect to the formation of a company.

From a personal perspective, I was involved in the formation of many companies on behalf of my accountancy clients but was never involved in any capacity other than as a person forming a company on behalf of others who were not able to do the job for themselves

Further to answer your post more fully, yes, anyone can be a promoter. But that isn’t to say that therefore everyone IS a promotor. Again, from a personal perspective, were I to form a company on my own behalf and conduct my business through that company, then in that situation, I would be a promoter

OK?