Question

According to The Companies Act 2013, which of the following statement is incorrect with regards to OPC (One Person Company)?

A The memorandum of OPC shall indicate the name of the other person, who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of the company

B Such Company cannot carry out Non-Banking Financial Investment activities including investment in securities of anybody corporate

C Minor shall become member or nominee of the OPC or can hold share with beneficial interest

D One person company has been introduced to encourage entrepreneurship and corporatization of business

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According to The Companies Act 2013, which of the following statement is incorrect with regards to OPC (One Person Company)?

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