- 1. Who can be a member of a company?
The rules governing membership of a company are normally set out in the company’s Articles of Association. A member is usually, but not always, one of the company’s owners whose name has been entered on the register of members. The initial subscribers to a company’s memorandum of association are deemed to have agreed to become members of the company.
Please see ODCE Information Booklet and Quick Guide on Members
- 2. Is there a limit on the number of members of companies?
Yes. A private limited company has a minimum of one member and a maximum of 99 members, and a public limited company has a minimum of 7 members and no maximum number set under the Companies Acts.
- 3. What is a shareholder?
A shareholder is a person who holds a share or shares in a company. The shareholder will become a member of the company when their name is entered into the register of members.
- 4. How to cease membership of a company?
In a company limited by shares the process is by the transfer of the share. In a company limited by guarantee - the Articles of Association should set out the process by which the member can relinquish their membership.
- 5. Is there a requirement to keep a register of members?
Yes. The Companies Acts require every company to keep a register of its members at the company’s registered office. The register should contain the name and address of each member, the date on which each member was entered on the register and the date on which they ceased to be members. If the company has a share capital the register should also contain the number of shares held by each member.
- 6. Who can inspect the register of members?
Any member of the company may inspect the register free of charge, and any other person may inspect the register on the payment of a nominal fee. A member or any other person may request a copy of the register from the company on the payment of a fee. Refusal or default by the company or any officer of the company in relation to the register is an offence. If a company fails to comply a complaint form can be submitted to ODCE.