# Single Member Company



## Scoby (19 Feb 2014)

I know/think that a company can become a company with only one shareholder- can it also have only one person acting as director/sec??


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## WindUp (20 Feb 2014)

Per the CRO


Single Member Company
A single member company is a private company limited by shares or a guarantee company having a share capital, which is incorporated with one member, or whose membership is reduced to one person. However, the company must have at least two directors and a secretary. The sole member, if he/she so decides, can dispense with the holding of General Meetings, including Annual General Meetings (AGMs). However, certain modifications laid down in the European Communities (Single-Member Private Limited Companies) Regulations 1994, have to be made. Also the accounts and reports that would normally be laid before the AGM of a company still need to be prepared and forwarded to the member.


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