23 January 2014
Is subscriber a permanent member of the company? Will his name be cancelled from the register when he transfers all his shares to an outsider? Will he be able to vote in every general meeting by show of hands, even after he has transferred his shares to an outsiders?
Subscribers are not permanent members. They will be considered as members only till the time they hold shares in the Company.
When they transfer all the shares to an outsider, they will cease to be member from that date and the transferee will become the member of the Company.
After transferring the shares, he will not have rights to vote in a general meeting (Unless he has been appointed as a proxy of original shareholder and the resolution is passed o poll)
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