Company registration eligibility: entities may convert to unlimited, share limited, or guarantee companies subject to member assent and capital conditions. Entities including partnerships, LLPs, cooperative societies, societies and other business entities of seven or more members may register under the Act as unlimited companies, companies limited by shares, or companies limited by guarantee, subject to exceptions for entities already registered under earlier companies legislation and for entities whose members' liability is limited under other laws. Conversion requires member assent at a general meeting, specific capital requirements for companies limited by shares, a declaration of capped contributory liability for companies limited by guarantee, and vote computation on a poll according to members' voting entitlements.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Company registration eligibility: entities may convert to unlimited, share limited, or guarantee companies subject to member assent and capital conditions.
Entities including partnerships, LLPs, cooperative societies, societies and other business entities of seven or more members may register under the Act as unlimited companies, companies limited by shares, or companies limited by guarantee, subject to exceptions for entities already registered under earlier companies legislation and for entities whose members' liability is limited under other laws. Conversion requires member assent at a general meeting, specific capital requirements for companies limited by shares, a declaration of capped contributory liability for companies limited by guarantee, and vote computation on a poll according to members' voting entitlements.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
