The term "person" is not defined under the Companies Act, 2013. Section 2 (41) of the General Clauses Act, 1897, provides that "person" shall include any company, or association or body of individuals, whether incorporated or not. Therefore such a person can be a natural or legal person. It is also relevant to note that based on the provisions of Section 8 (3), even a partnership firm can be a member of a Section 8 company.

To incorporate a Section 8 company, an application has to be made to the Registrar of Companies in Form No. INC.12, which will be inter alia, with the following documents: i. In the draft Memorandum of Association (MOA) and Articles of Association of the Company (AOA) prescribed (Form no. Inc. - 13) where photographs of customers have been pasted. ii. The declaration is to be attached in the form no. INC-14 (on stamp paper, duly notarized), in practice by a lawyer, a chartered accountant, cost accountant or company secretary, that the draft memorandum and articles of association are prepared in accordance with the provisions of section 8 and the rules. All the requirements under and under Section 8 have been complied with. iii. An estimate of the company future annual income and expenditure for the next three years, specifying sources of income and items of expenditure. iv. Declaration form and duly notarized on stamp paper (in Form No. INC-15) by each person applying. v.Form No. INC-9 from each customer and first directors, on state appropriate stamp paper and duly notarized.

20 Companies Rules (1) (Incorporation) Rules, 2014 A limited company registered under this Act or under any previous company law shall only make an application to the Registrar for issuing a license. Therefore, a company with unlimited liabilities cannot be registered as a Section 8 company.

Section 8 A company may be incorporated as a company limited by shares or guarantees (with or without share capital).

Yes. As per Rule 8 (7) of the Companies (Incorporation) Rules, 2014, for companies under Section 8 of the Act, the name shall include the words foundation, forum, association, federation, mandals, confederation, council, electoral trust. Like etc.

Rule 19 (2) of the Companies (Incorporation) Rules, 2014 provides that the memorandum of cooperation of section 8 company shall be in Form No. 1. A review of Form 13 Inc. makes clear that Section 8 may provide a memorandum of cooperation of the company to do all other legitimate things such as it is considered necessary to pursue the items for which the company is incorporated.

Yes, an article of association of a section 8 company may contain an entry clause in terms of the provisions of section 5 (3).

The stamp duty on memorandum and articles of association of the company or on any increase in share capital has been adopted by the Indian Stamp Act, 1899 by the Stamp Act of the State concerned or the State concerned, as the case may be. Some states provide a privileged rate for stamp duty on MOA / AOA of Section 8 companies or on an increase in authorized share capital. The summary of stamp duty rates in different states is placed in Annexure-E.

The stamp duty on issue of share certificate is governed by the respective state or the stamp act of the concerned state as per the Indian Stamp Act, 1899, as the case may be. No exemption in special rate of stamp duty has been provided in respect of stamp duty payable by the State Government on issue of share certificate by Section 8 company.