Company formation requires specific subscriber numbers and prescribes nominee consent and filing rules for one person companies. Company incorporation requires subscription to the memorandum and compliance with registration; public companies need seven or more subscribers, private ... Summary
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Company formation requires specific subscriber numbers and prescribes nominee consent and filing rules for one person companies.
Company incorporation requires subscription to the memorandum and compliance with registration; public companies need seven or more subscribers, private companies two or more, and a One Person Company may be formed by a single subscriber. A One Person Company must nominate a person with prior written consent filed at incorporation to become member on the subscriber's death or incapacity; that nominee may withdraw consent and may be changed by notice, with prescribed duties on the member and company to notify the Registrar; such changes are not alterations of the memorandum.
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