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What does it mean?

Dear Student,
Here is your answer,

In order to commence the business, company has to fulfill the following two conditions:
(i) Directors of the company have to give the declaraton that all the subscribers of the Memorandum of association must have paid their share value.
(ii) Company has to verify its registered office and send the verificaton report to the Registrar of companies.

Regards.
 

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It's not much relevant to class 12 exams. But it simply means the conditions after which a company can be started.
1)Proof that every subscriber (member) has paid for shares, this should be submitted to Registerar of companies

2) Address proof is also required to be submitted to Registerar of companies.
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