Members qualifications.

How to became a member:

Any person who is comptent to contract( the Indian contract act, 1872) may became a member of a company. This is subject to the provisions of the memorandum and articles of a company.the articles may provide that certain persons cannot become members of the company.

Members qualification

A person may become a member of a company in the following ways

1.members by subscription

The subscribers to the memorandum of association of a company are deemed to have agreed to became its members.neither application nor allotment of shares is necessary.

2.membership by application and registration:

Apart from the subscribers of memorandum, every other person, who agrees in writing to become a member and whose name is entered in the register of members, is a member of the company

Registration of the name of a person as member of a company may result from any one of the following ways:

1.by application and allotment.

2.by transfe.

3.by succession.

4.agreement to be in writing.

3.membership by beneficial ownership:

Every person holding equity share capital of a company and whose name is entered as deemed to be a member of concerned company.

4.membership by qualification shares:

Before a person can be appointed a director of a public company, he must take, or sign an under taking to take and pay for the qualification shares.