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of <h1>Business entities registering as companies u/s 366: who qualifies, allowed company types, member approvals, and key limits</h1> Section 366 expands 'company' for registration purposes to include partnership firms, LLPs, cooperative societies, societies, and other business entities formed under any other law that apply to register under the Companies Act, 2013, enabling such entities with at least two members to register as an unlimited company or as a company limited by shares or by guarantee, without invalidity merely because registration is undertaken with a view to winding up. It bars entities already registered under prior Companies Acts from re-registering and restricts entities with statutorily limited liability from registering as unlimited or limited by guarantee. Registration as limited by shares is permitted only where a fixed share/stock structure exists, and registration requires majority member assent at a duly summoned general meeting (three-fourths where an unlimited-liability entity seeks limited status), with additional guarantee undertakings where applicable; entities with fewer than seven members must register as private companies.
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