As per the Companies Act, 2013, Section 8 companies can be made either as Private Limited, LLP or Public. Section 8 companies are formed with a charitable objective of welfare, with none intention to urge any quite profit or dividend. Section 8 Company may be a legal entity for non-government or non-profit organizations. The main objective is to market commerce, education, art, science, sports, welfare, and protection of human rights, protection of the environment or the other such objective. A Section 8 company is registered under the Ministry of Corporate Affairs of Central Government.
Section 8 Company performs various non-profitable functions including:
Below are the steps to be performed for registration of Section 8 Company:
All the directors must get a DSC (Digital Signature Certificates) to sign online forms.
Choose a suitable name and get it approved by filing SPICe Part 'A'
Draft the memorandum of association (MOA) and article of association filling of forms with ROC be signed by the subscribers of the memorandum.
File the Form INC 12 with ROC to get the registration under the Companies Act, 2013 with the attachments like MOA, AOA, list of directors of the company and declaration by the subscribers.
Below is the list of documents required for the registration process?
Any person or Number of associated persons intending to register a limited liability company for objects as specified can opt to apply for Company Registration or Company Formation under Section 8.
No. As per Rule 20(1) of the Companies (Incorporation), 2014 that only a limited company registered under this Act or any previous company law can apply to the issue of license. Hence, a company with unlimited liabilities cannot be registered as a Section 8 Company.
Yes. According to rule 8(7) of the Companies (Incorporation) Rules, 2014, the name shall include the words like foundation, Forum, Association, Federation and the like, etc. for Companies under Section 8 of the Act,
In terms of section 8, any person or an association of persons intending to register a limited liability company for objects specified in section 8(1)(a), can opt to apply for registration of Section 8 Company subject to the restrictions provided in section 8(1)(b) and (c), A Co-operative society can be observed as a Person and is eligible for becoming a subscriber of Section 8 Company.
No. provision of section 2(85), section 2(85) does not apply to a Section 8 Company and consequently, a Section 8 Company cannot be treated as a small company.
Yes, a Section 8 Company can be transformed into any other company as suggested under Section 8(4) of Companies (Incorporation) Rules, 2014.
Yes. As per Section 8(1) of the Companies Act, 2013 person or association of persons can be registered as a Section 8 Company on the completion of certain conditions and procedures. Considering Partnership Firm as a person, it can be registered as a Section 8 Company.