Professional Documents
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Applicability of Rules
A company incorporated as single member company; and A private company limited by shares becoming a single member company after complying with the requirements of these rules.
Definitions
Alternate Nominee Director u/s. 2(a) Nominated by single Member Incase of non-availability of nominee director Nominee Director u/s. 2(c) Nominated by single Member To act as director in case of death of single member Sole Director u/s. 2(h) The director of a single member company who is for the time being the only director
iii. Alter its articles within 30 days of transfer of shares iv. Appoint and Elect additional Directors within 14 days of Special Resolution v. Notify appointment Form 29 within 14 days of appointment c. Operation of Law i. Transfer shares within 7 days (order of Court or Authority) ii. Special Resolution for change of status iii. Alter its articles iv. Appoint additional Director(s) v. Notify appointment Form 29 Persons becoming members due to transfer, transmission or further allotment of shares shall pass a special resolution to make alteration in articles Appoint additional Director(s) Where a single member company converts into a private company it shall File a Notice form S2 with registrar Within 60 days from date of passing of resolution
Company Secretary
Appointment o Appointed within 15 days of incorporation; becoming a SMC; or Office of company secretary falling vacant o Notify appointment within 14 days Form 29 o Sole director can not be a company secretary Qualification: Person holding bachelor degree from HEC recognized University Duties o Attend all proceedings of general Meetings & Meetings of director(s) o Cause accurate summary of the minutes along with name of those participating in minutes book o Inform the registrar about the death of the single member
o in case of impediment report circumstances seeking directions Form S3 transfer shares to legal heirs call the general meeting of the members to elect directors