Minor as a member of company
This query is : Resolved
11 April 2015
Hi,
Can a minor be a member of a company under Companies Act 2013? What are conditions for a minor to become member of a Company??
Can a minor be a member of a company under Companies Act 2013? What are conditions for a minor to become member of a Company??
11 April 2015
A minor cannot become a member directly in a company and the name of his guardian can alone appear in the register of members. A minor is incapacitated by law to enter into a Contract and therefore he can not become a member in the company.
Section 2(55) “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;
Section 2(55) “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;
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13 April 2015
Is there any change as per new Companies Act, 2013. Or it is same as it was in Companies Act, 1956?
13 April 2015
Section 2 (55) quoted above is of Companies Act 2013.
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