Company formation rules require specified subscriber thresholds and nominee, registration and notification duties for one person companies. Companies may be formed for lawful purposes by specified minimum subscribers-seven for public, two for private, and one for a One Person Company-by subscribing to a memorandum and complying with registration requirements. A One Person Company's memorandum must name a nominated person with prior written consent to become member on the subscriber's death, and that consent must be filed with the Registrar; the nominee may withdraw consent and the member may change the nominee by prescribed notice, with company and Registrar notification duties. Formation may result in a company limited by shares, limited by guarantee, or unlimited.
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Provisions expressly mentioned in the judgment/order text.
Company formation rules require specified subscriber thresholds and nominee, registration and notification duties for one person companies.
Companies may be formed for lawful purposes by specified minimum subscribers-seven for public, two for private, and one for a One Person Company-by subscribing to a memorandum and complying with registration requirements. A One Person Company's memorandum must name a nominated person with prior written consent to become member on the subscriber's death, and that consent must be filed with the Registrar; the nominee may withdraw consent and the member may change the nominee by prescribed notice, with company and Registrar notification duties. Formation may result in a company limited by shares, limited by guarantee, or unlimited.
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