Section
and Name Section 150(1) &
151(1) REGISTER AND INDEX OF MEMBERS
Requirements and Format "In the case of a company having
share capital, the register should contain the following particulars in respect
of each member: name, father’s /husband’s name, address (address of registered
office in case the member is a body corporate) and occupation; name of guardian
if shares are held by a minor and date of birth of minor; folio number; date on
which the name of each person is entered in the register as a member; date on
which any person ceased to be a member; allotment number or transfer number;
number of shares allotted or transferred; date of allotment or transfer;
nominal value of shares acquired; type of shares; number and date of issue of
share certificate; transferor’s name and folio number; distinctive number of
shares except where such shares are held with a depository; nominal value and the amount paid or agreed to be
considered as paid and amount due, if any, on such shares; date of payment;
date of transfer; number of shares transferred; transferee’s name and folio
number; nominal value of shares transferred; balance of shares held; number of
shares, if any, kept in abeyance; note of declaration of beneficial interest, if any, given by the member; name
and details of nominee; dividend mandates; other instructions, if any, given by
the member with regard to sending of notices etc. In the case of a company without share
capital, the register should contain the following particulars in respect of
each member: name, father’s /husband’s name, address and occupation; folio
number; date on which the name of each person is entered in the register as a
member; date on which any person ceased to be a member; amount of guarantee;
instructions, if any, given by the member with regard to sending of notices
etc."
Separate
registers should be maintained for each class of equity and preference shares.
Every
company having more than 50 members should keep an index of the names of the
members of the company unless the register is in such form as in itself
constitutes an index.
Entries
in the register should be made simultaneously with the allotment or transfer of
shares and entries in the index should be made forthwith.
In
the case of joint shareholders, the particulars of each joint shareholder
should be recorded in the register.
Where
a company closes its register of members, it should give not less than 7 days
previous notice by advertisement in an English newspaper or in a vernacular newspaper
circulating in the district in which the registered office is situated.
Where to Kept "The register and index should be maintained at the
registered office of the company unless, in a general meeting, a special
resolution is passed, authorizing the keeping of the register at any other
place within the same city, town or village in which the registered office is
situated and an advance copy of the proposed special resolution is given to the
Registrar of Companies. "
Inspection "Except when the register is closed under the
provisions restrictions as the company may impose by its articles or in general
meeting so that not less than 2 hours in each working day of the company are
allowed for inspection.
Members
or debenture holders can inspect the register and index without payment of any
fee and any other person can inspect the register on payment of the requisite
fee.
Copies of the register can
be demanded by any person who inspects the register."
Authentication Entries in the register and index should be authenticated by the
secretary of the company or by any other person authorized by the Board for the
purpose, by appending his signature to each entry.
Preservation The
register and index should be preserved permanently and should be kept in the
custody of the secretary of the company or any other person authorized by the
Board for the purpose
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