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Single Member Company Form 1 Regulation 6 THE REPUBLIC OF UGANDA THE COMPANIES ACT, 2012 NOTICE OF NOMINATION OF NOMINEE DIRECTOR AND ALTERNATE NOMINEE DIRECTOR BY SINGLE MEMBER PART A Particulars.

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Single Member Company or SMC is a private company which has only one member/director and which has the privileges of limited liability. It has facilitated sole proprietorships to obtain corporate status.

A single member company herein after referred to as “SMC” is defined as a private company limited by shares or by guarantee, which is incorporated with one member, or whose membership is reduced to one personi.

The Company is a single member company and as such being a private company limited by shares- a) Shall not issue invitation to the public to subscribe for any share of the company; b) The number of the members of the company shall be limited to one member, and c) Shall have shares wholly owned by the single member.

Provided that if the valuer has contravened such provisions with the intention to defraud the company or its members, he shall be punishable with imprisonment for a term which may extend to one year and with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.

(1)The powers of the directors of a company include (if they would not otherwise do so) power to make provision for the benefit of persons employed or formerly employed by the company, or any of its subsidiaries, in connection with the cessation or the transfer to any person of the whole or part of the undertaking of ...

Companies Act, 2012 (No. 1 of 2012). Abstract/Citation: An Act to amend, replace and reform the law relating to the incorporation, regulation and administration of companies and to make provision for related matters.

The Company is a single member company and as such being a private company limited by shares- a) Shall not issue invitation to the public to subscribe for any share of the company; b) The number of the members of the company shall be limited to one member, and c) Shall have shares wholly owned by the single member.

Section 198 operates to ensure that only those incomes are taken into account which can be credited to the efforts of the managerial team and to deduct only those expenses which are related to the income of the managerial team.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232