Under the First Corporate Law Simplification Act 1995, companies registered prior to December 12, 1995 can convert to a Sole Director/Member company. The existing directors and members of the company must resolve to repeal their existing Constitution (Memorandum and Articles of Association), and adopt a new Constitution, which allows for these changes. The company can then retire the relevant officeholders accordingly.

The constitution allows for the company to be both a multiple member/director and sole member/director company. Sections of the constitution refer to guidelines for procedures if the company has "only 1 director" or if the company has "more than 1 director" etc.

The Texas Non-Profit Corporation Act and the Texas Business Organizations Code require a nonprofit corporation to have at least three directors, one president, and one secretary. The same person cannot be both the president and secretary. Officers and directors must be natural persons.

The first Corporate Law Simplification Act 1995 made it possible for companies to operate with only 1 individual. This individual can be the member, director, secretary and public officer. The conversion does not restrict the company from having more than 1 member/director. The conversion service adds provisions to the company's current constitution to allow the company to have a minimum of one member/director.

No. If there is only one director he or she cannot also be the secretary. However, if there are two, one can be secretary as well. There are no qualification requirements for either directors or secretaries. They can be individuals or another company. They do not need to be UK resident. In the terms of digital signature, It is the responsiblity of the applicant that all persons give him/her their authority to act as company officers.

A person is not permitted to be appointed as a director of a company unless they have attained the age of 18 years. As the initial members are required to sign the constitution they must also have attained the age of 18 years. (There may be adverse consequences for the company if the constitution is signed by a person under 18 years of age). Members appointed after registration of the company may be under 18 years of age, as they are not required to sign the constitution.

In general terms, yes, but there are some rules. You can't be a company director if: you are an undischarged bankrupt or disqualified by a court from holding a directorship, unless given leave to act in respect of a particular company or companies; There is no minimum age limit in the Companies Act for a director to appointed in England or Wales however, he or she must be able to consent to their own appointment.

You can't be a company director of a Limited Company if you are an undischarged bankrupt or disqualified by a court from holding a directorship, unless given leave to act in respect of a particular company or companies; There is no minimum age limit in the Companies Act for a director to be appointed in England and Wales . However, he or she must be able to consent to their own appointment.

Generally, any person or company of any nationality anywhere in the world, can be appointed as a director or a company secretary. Some exceptions to this are: persons wishing to be the company secretary of a public company ( - they must hold certain qualifications). Comprehensive guidance on this issue is provided within this website at the appropriate stage.

Yes. Proprietors who wish to hold the entire share capital can do so by forming a "Single Member Company".

Up until now incorporation (forming a Limited company) has broadly been seen as a way to reduce income tax. Whether or not incorporation will be benefit you depends on your own earnings profile. Detailed calculations need to be done to work this out. But you can get worthwhile tax savings. These will depend on your profit and what you need as take home pay.

The investors may nominate one of their number (who need not be the lead investor) to join the board of the company.

No. There is a ban, unless you obtain leave of the court, from an undischarged bankrupt being involved in the formation, management, running of a company or being a director of a company. If you are already a director of a Company you should resign immediately.

Yes. A board resolution must be drafted and signed by the director(s) of the company and officially filed with the company registry in the country of incorporation. The new director(s) must provide a copy of their passport, proof of permanent home address, telephone/fax number and email address together with a signed letter stating that they wish to become a director of the company.

A LTD company can have 1 or more directors and 1 secretary, also a sole director cannot become company secretary. The company secretary of a LTD company does not have to be qualified to hold the position.

There is no minimum age limit in the Companies Act for a director to be appointed in England and Wales. However, he or she must be able to consent to their own appointment. You should seek legal advice if you intend to have a very young person as a director of your company. In Scotland the Registrar will not register for any company the appointment of a director under the age of 16 years old.

Anyone who is an undischarged bankrupt or is disqualified by a court from holding a Directorship cannot be a Director unless given leave to act in respect of a particular Company or Companies. In the case of Public Limited Companies or their subsidiaries, a person seeking election as a Director and who is over 70 years of age, or who reaches 70 years while in office, can only be appointed, or re-appointed, by resolution of the Company in general meeting of which special notice has been given.