Licence under section 8(5) of the Companies Act, 2013

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....t, …….., as a limited company are restricted to those specified in, clause (a) of sub-section (1) of section 8 of the said Act and that it intends to apply its profits, if any, or other income in promoting its objects and to prohibit the payment of any dividend to its members; NOW, THEREFORE, in exercise of the powers conferred by sub-section (5) of section 8 of the said Act, I, the....

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....fit to persons who at any time are or have been members of the said company or to any of them or to any person claiming through any one or more of them; (3) that no remuneration or other benefit in money or money's worth shall be given by the company to any of its members except payment of out-of-pocket expenses, reasonable and proper interest on money lent, or reasonable and proper rent on premi....

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....roved by the Registrar; (7) The Company can be amalgamated only with another company registered under section 8 of the Act and having similar objects; and (8) that, without prejudice to action under any other law for the time being in force, this licence shall be liable to be revoked, if the company: (a) contravenes any of the requirements of section 8 of the Act or the rules made thereunder ....