Contract by One Person Company: written terms or board minutes required when sole member-director contracts, plus registrar notification. Where a One Person Company contracts with its sole member who is also a director, the company must ensure the contract is written or its terms are ... Summary
Contract by One Person Company: written terms or board minutes required when sole member-director contracts, plus registrar notification.
Where a One Person Company contracts with its sole member who is also a director, the company must ensure the contract is written or its terms are included in a memorandum or recorded in the minutes of the first Board meeting after entering into the contract, except for contracts in the ordinary course of business, and must notify the Registrar of every contract so recorded within a prescribed period after Board approval.
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