A “Government company” is defined under Section 2(45) of the Companies Act, 2013 as “any company in which not less than 51% of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary company of such a Government company”.
Thus, the cardinal feature of a government company is not less than 51% ownership by Central/state government, either individually or jointly.
A Company is called an artificial person because _________.
A Company is called an artificial person because It is invisible and intangible. Corporation is an artificial being, invisible, intangible and existing only in contemplation of law. It has neither a mind nor a body of its own.
The liability of members of a co-operative society is _________.
Membership of a co-operative is voluntary. "Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, political, racial, or religious discrimination.”
The minimum number of members required for registration of a co-operative society is ________.
A minimum of ten members are required to form a cooperative society. The Co operative societies Act do not specify the maximum number of members for any co-operative society. However, after the formation of the society, the member may specify the maximum number of members.