Provisions not applicable to OPC

“One person company means a company which has only one member”

Companies Act, 2013 has come up with a new concept – One Person Company (commonly known as OPC)

Important features of One Person Company are:-

   OPC has only one person as a member/shareholder.
   OPC can be registered only as a Private Company.
   OPC may be either a company limited by share or a company limited by guarantee or an unlimited company.
   An OPC limited by shares shall comply with following requirements :
o Shall have minimum paid up capital of INR 1 lac
o Restricts the right to transfer its shares
o Prohibits any invitations to public to subscribe for the securities of the company.
   An OPC is required to give a legal identity by specifying a name under which the activities of the business could be carried on.

Following are the provisions that aren’t applicable to OPC as per Companies Act, 2013:-

Section 98 Power of tribunal to call meetings of members
Section 100 Calling of extra ordinary general meeting
Section 101 Notice of meeting
Section 102 Statement to be annexed with the notice
Section 103 Quorum for meetings
Section 104 Chairman of meetings
Section 105 Proxies
Section 106 Restriction on voting rights
Section 107 Voting by show of hands
Section 108 Voting through electronic means
Section 109 Demand Poll
Section 110 Postal Ballot
Section 111 Circulation of member’s resolution.