MEMBERSHIP IN A COMPANY

Definition Sec.41 of the Companies Act of 1956, defines a member as a person who has signed the MOA and every other person who agrees in writing to become a member and whose name is entered in the Register of Members.

Every person holding equity share capital of a company and whose name is entered as beneficial owner in the records of the depository shall be deemed to be a member of the concerned company.‡ According to the Depositories Act 1996. .

Share holders not being members ‡ Holder of a share warrant ‡ Transferee or the Legal Representative .

Signatories to the MOA Membership by Acquiescence or estoppel List B contributories By an order or decree of a court of law.Members not being Shareholders ‡ ‡ ‡ ‡ ‡ ‡ A company limited by Guarantee. . Transferor of shares.

By transfer of shares.. . By agreeing to take qualification shares.Modes of Acquiring Membership ‡ ‡ ‡ ‡ ‡ ‡ By subscribing to the Moa. By transmission or succession of shares. By application and allotment. By holding out as a member.

Who may become a member? ‡ Minor Fazalbhoy Jaffar Vs. Official Liquidator ‡ Company ‡ Subsidiary company ‡ Partnership Firm . The Credit Bank of India Palaniappa Vs.

.

‡ ‡ ‡ ‡ ‡ ‡ Foreigners.FEMA Act.1999 Fictitious Person HUF Joint Holders Bankrupt Trustee Registered Society .

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