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प्रश्न
Justify the following statement.
Subscribers to Memorandum of Association are the first members of the company.
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उत्तर
(1) To subscribe means to signify one‘s assent or approval especially to sign the memorandum of association of a proposed new registered company and thereby become one of the first members of that company. Subscribers to the Memorandum of Association of a company, who are signatories to the Memorandum, are deemed to have agreed to become the members of the company. When the Company is registered their names are entered as the members In the Register of Members. Thus, in this case, neither an application nor the allotment of shares is necessary to become a member.
(2) The subscriber to the memorandum of Association in case of a public company is a minimum of 7 members and 2 in the case of Private Company and 1 in the case of One Person Company (OPC). They are the first members of the company.
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संबंधित प्रश्न
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Insane person | 1) Transfer of shares by operation of law |
| b) Foreigner | 2) Cannot be a member |
| c) Transmission of shares | 3) Cessation of membership |
| d) Surrender of shares | 4) To get copies of Auditor’s, Directors’ Report, etc. |
| e) Right of Members | 5) Can be a Member |
| 6) To attend a board meeting | |
| 7) Duties of member | |
| 8) Surrendering all assets to the company | |
| 9) Demand or claim money from the company | |
| 10) Transfer of shares by order of Secretary |
Write a word or a term or a phrase which can substitute the following statement:
End of membership of a person.
Write a word or a term or a phrase which can substitute the following statement:
Becoming a member of a company.
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:
Both, individuals and body corporate can be members of the company.
State whether the following statement is True or False:
Legal competency to enter into contracts is one of the criteria to become a member of the company.
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 __________
Answer in one sentence:
What is the common way of becoming 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.
Member and Shareholder are interchangeable terms.
Justify the following statement.
A Foreigner can invest in shares of an Indian company.
Justify the following statement.
Insolvent person ceases to be the Member of the company.
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
Answer the following question:
Explain the circumstances when Member is not a shareholder and vice-versa.
