What is included in the incorporation agreement according to BCA?

The incorporation agreement, as stipulated by the Business Corporations Act (BCA), primarily includes a short agreement among the incorporators to take shares in the corporation. This reflects the fundamental purpose of the incorporation agreement, which is to establish the existence of the corporation and outline the initial agreements and commitments of the incorporators.

This agreement typically details the number of shares each incorporator agrees to take, thereby providing a basis for the ownership structure of the company from the outset. It serves as a foundational document that is essential for the formal organization of the corporation, which is distinct from broader corporate governance documents like bylaws or financial reports.

By contrast, the other options focus on aspects that are either not foundational to the incorporation process or are required at different stages of the corporate lifecycle. For instance, company bylaws, which govern internal procedures, and annual financial reports, detailing the company's financial status, are separate from the initial incorporation. Similarly, a declaration of company profits pertains to ongoing financial reporting and management, which follows incorporation. Prioritize understanding the incorporation agreement's purpose and context within the establishment of a corporation to grasp its significance under the BCA.