Charitable company licence: name change permitted if income used for objects and dividends to members prohibited. Licence permits a section 25 company to omit "Limited" or "Private Limited" from its name by special resolution, conditioned on governance by its ... Summary
Charitable company licence: name change permitted if income used for objects and dividends to members prohibited.
Licence permits a section 25 company to omit "Limited" or "Private Limited" from its name by special resolution, conditioned on governance by its memorandum, application of all income and property solely to its objects, prohibition of distribution of profits or dividends to members, restrictions on member remuneration except specified reimbursements and approved remuneration for services, requirement of Central Government approval for alterations to constitutional documents and for certain member payments, and revocation of the licence on breach of these conditions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.