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प्रश्न
Justify the following statement.
Member and Shareholder are interchangeable terms.
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उत्तर
(1) According to the procedure under the Company Law, the name of a person who has been allotted shares (Le. a shareholder) has to be entered in the Register of Members. Thus, he becomes a member of the company. It is for this reason that the two terms ‘member’ and ‘shareholder’ are interchangeably used to mean the same person. However, this is true in the case of (i) a company limited by shares, (ii) a company limited by guarantee and having a share capital, and (iii) an unlimited company having a share capital.
(2) But in the case of a company limited by guarantee without share capital and an unlimited company without share capital, a member is not a shareholder. Thus, a member may or may not be a shareholder and Vice versa. A person who subscribes to the Memorandum of Association may not have been allotted any shares. He is a member but not a shareholder. A shareholder who has transferred his shares ceases to be a shareholder but continues to be a member till the transfer 15 registered. Thus, a person may be a member without being a shareholder, or he may be a shareholder without being a member.
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संबंधित प्रश्न
Select the correct answer from the options given below and rewrite the statement:
A person can be called as a Member when the name is entered in ________
Select the correct answer from the options given below and rewrite the statement:
When a person buys shares of a company by filling up an application form, the person becomes a member by _________.
Select the correct answer from the options given below and rewrite the statement:
____________ means a person ceases being a member of the company of membership.
Write a word or a term or a phrase which can substitute the following statement:
End of membership of a person.
State whether the following statement is True or False:
Buying shares is the most common way to become a Member of the company.
State whether the following statement is True or False:
Member of the company is conferred with several rights.
State whether the following statement is True or False:
Member is entitled to profits of the company when a dividend is declared.
Complete the sentence:
A person whose name is entered in the Register of Members of a company is called __________
Select the correct option form the bracket.
| Group A | Group B |
| Minor | ___________ |
Select the correct option form the bracket.
| Group A | Group B |
| ___________ | Can hold shares in the name of partners |
Correct the underlined word and rewrite the following sentence:
A Minor can be a member of a company.
Correct the underlined word and rewrite the following sentence:
Partnership Firm can be a member of a company.
Justify the following statement.
Subscribers to Memorandum of Association are the first members of the company.
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
Justify the following statement.
Members of company are entitled to several rights.
