Can minor becomes member
This query is : Open
29 June 2014
Can a Minor become member in company limited by gaurantee and an unlimited company as per new companies Act, 2013 ???
29 June 2014
Section 2(55) defines the member as below:
“member”, in relation to a company, means—
(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;
(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;
(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository;
Since Minors don’t have the capacity to enter into contracts, they can not be a member of a company.
“member”, in relation to a company, means—
(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;
(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;
(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository;
Since Minors don’t have the capacity to enter into contracts, they can not be a member of a company.
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