Most of the associations and chambers registered under section 8 invite professional or general public to become members by charging a fixed fees in such case my questions are -
- Do such members act as shareholders of the company?
- Do such members have legal obligations with MCA in future?
- Do such members can vote for directors elections?
- Can such members choose or vote for a leader (to act as catalyst or to be included in committee of association) from themselves?
- Do such members can be obstacle while amalgamation with another section 8 or merging into another entity?
- Can company directly cancel membership of such members in case of dispute or breach of regulations?
Please enlighten.
Warm Regards,
Nitin
CAclubindia
