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Thus no company shall be formed for carrying on any unlawful objects.
Section 3 of companies act. Download all sections of the companies act 2013 in pdf. Section 3 c 1 exemption from definition of investment company notwithstanding subsection a of section 3 of the investment company act of 1940 none of the following persons is an investment company within the meaning of this subchapter. B two or more persons where the company to be formed is to be a private company.
Companies amendment act 3 of 2011 act to provide for the incorporation registration organisation and management of companies the capitalisation of profit companies and the registration of offices of foreign companies carrying on business within the republic. Section 3 of the companies act 2013 has been notified by the ministry of corporate affairs mca vide notification no. Pursuant to section 3 2 of the companies act 2013 a company formed under section 3 1 may be either a company limited by shares.
A company limited by guarantee. 1 a company may be formed for any lawful purpose by. Section 3 in the companies act 1956 3.
This notification was come into force from 1st april 2014 i e. Any changes that have already been made by the team appear in the content and are referenced with annotations. Practically there are listed companies which have lakhs of shareholders.
To define the relationships between companies and their respective shareholders or members and directors. The commencement date of section 3 is 1 4 2014. A seven or more persons where the company to be formed is to be a public company.
Public company section 3 1 a of companies act 2013 minimum number of persons required for public company is 7 and there is no limit on maximum number of members in public company. In the case of a company incorporated before the date of commencement of section 3 of the companies amendment act 2014 the memorandum of association of the company the articles of association of the company or both in force immediately before that date. Section 3 of companies act 2013 formation of company.
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