Law · Companies Act, 2013
What specific statutory requirement must the single shareholder of a One-Person Company (OPC) fulfill to ensure succession in the event of their death or incapacity?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1They must legally convert the OPC into a Section 8 Company before incapacitation.
- 2They must appoint a minimum of two directors to legally take over the ownership.
- 3They must ensure their shares are automatically transferred to the state government.
- 4They must nominate another person as a nominee who will automatically become the member.✓
Correct answer
They must nominate another person as a nominee who will automatically become the member.
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