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of <h1>Company formation under Section 3: public, private and One Person Company rules, nominee requirements and types</h1> Section 3 of the Companies Act, 2013 permits formation of a company for any lawful purpose by: at least seven persons for a public company, at least two for a private company, and one person for a One Person Company (OPC), through subscription to a memorandum and compliance with registration requirements. For an OPC, the memorandum must specify a nominated person, with prior written consent filed with the Registrar, who becomes a member upon the subscriber's death or incapacity. The nominee may withdraw consent, and the member may change the nominee, with both the company and Registrar to be informed as prescribed. Such change does not amount to alteration of the memorandum. A company so formed may be limited by shares, limited by guarantee, or unlimited.
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