valid as on 20/10/2019

Section 122.Applicability of this Chapter to One Person Company.
Effective from 01-04-2014

(1) The provisions of section 98 and sections 100 to 111 (both inclusive) shall not apply to a .

(2) The ordinary businesses as mentioned under clause (a) of sub-section (2) of section 102 which a , other than a One Person Company, is required to transact at its annual general meeting, shall be transacted, in case of One Person Company, as provided in sub-section (3).

(3) For the purposes of section 114, any business which is required to be transacted at an annual general meeting or other general meeting of a company by means of an , it shall be sufficient if, in case of One Person Company, the resolution is communicated by the  to the company and entered in the minutes-book required to be maintained under section 118 and signed and dated by the member and such date shall be deemed to be the date of the meeting for all the purposes under this Act.

(4) Notwithstanding anything in this Act, where there is only one director on the  of a One Person Company, any business which is required to be transacted at the meeting of the Board of Directors of a company, it shall be sufficient if, in case of such One Person Company, the resolution by such   is entered in the minutes book required to be maintained under section 118 and signed and dated by such director and such date shall be deemed to be the date of the meeting of the Board of Directors for all the purposes under this Act.

2(62) One Person Company means a company which has only one person as a member
2(20) Company means a company incorporated under this Act or under any previous company law
2(63) Ordinary or special resolution means an ordinary resolution, or as the case may be, special resolution referred to in section 114
2(55) Member in relation to a company, means—

(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;

(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;

(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository

2(10) Board of Directors, in relation to a company, means the collective body of the directors of the company
2(34) Director means a director appointed to the Board of a company

Enforcement Notification S.O. 902(E) dated 26/03/2014


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