Change Members of OPC
What is member change of One Person Company?
Member change means to change the existing member of the OPC with new person or existing nominee person of the OPC in the event of death or incapacity to contract of member of Once Person of the Company. Form INC-4 is required to be when there is change in member or nominee due to Change in Member or Nominee of OPC.
When the Member of the Company ceased to be member of the Company?
Transfer of ownership of the company to other person,
• Death of the member
• Incapacity of member to contract
Whether it is mandatory to change the Nominee person, when we change the Member of OPC
In case of Change in Member either new member may replace the existing Nominee with new Nominee person or the existing nominee can remain the nominee
Who is eligible to act as a member of an OPC?
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.
Following person can’t become member of the OPC:
• Minor (as per Rule 3(4) of the Companies (Incorporation) Rules 2014). A minor cannot even hold share with beneficial interest.
• Foreign Citizen
• Non Resident
• A person incapacitated to contract
• Persons other than a Natural Person i.e. living human being
As per the explanation given to Rule 3(1), a resident of India for the purpose of the provisions governing OPC is a person who has stayed in India for a period of not less than 182 days during the immediately preceding one calendar year.
