Membership threshold reduction mandates smaller groups to register as private companies, altering company classification and incorporation rules. The amendment to section 366(2) substitutes the membership threshold of seven or more members with two or more members and inserts a proviso clause ... Summary
Membership threshold reduction mandates smaller groups to register as private companies, altering company classification and incorporation rules.
The amendment to section 366(2) substitutes the membership threshold of seven or more members with two or more members and inserts a proviso clause requiring any company with fewer than seven members to register as a private company.
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