What is eForm INC-3?
A One Person Company has to indicate the name of another person as a nominee in its memorandum with his written consent, who will become a member of the company on the death of the subscriber/member or becomes incapacity to contract has to file an application to Registrar in this eForm INC-3.
- Form INC-3 is required to be filed pursuant to section 3(1) of the Companies Act, 2013 and rules 4(2), (3), (4), (5) & (6) of Companies (Incorporation) Rules, 2014.
According to section 3(1) of the Companies Act, 2013 company may be formed for any lawful purpose by—
(a) Seven or more persons, where the company to be formed is to be a public company;
(b) Two or more persons, where the company to be formed is to be a private company; or
(c) One person, where the company to be formed is to be One Person Company, that is to say, a private company, by subscribing their names or their name to a memorandum and complying with the requirements of this Act in respect of registration.
According to Rule 4(2), (3), (4), (5) & (6):
(2) The name of the person who is nominated under sub-rule (1) has to be mentioned in the MOA of One Person Company and the nomination in Form No INC-32 (SPICe) along with the consent of such nominee be obtained in Form No INC-3 and pay the fee as provided in Companies (Registration offices and fees) Rules, 2014 and be filed with the Registrar at the time of incorporation of the company along with its MOA and AOA.
(3) In pursuance of the second proviso of sub-section (1) of section 3, the person nominated by the subscriber or member of a One Person Company may withdraw his consent by giving a notice in writing to such sole member and to the One Person Company. The sole member should nominate another person as a nominee within 15 days of the receipt of the notice of withdrawal and intimate of such nomination in writing to the Company, with the written consent of such other person so nominated in Form No. INC-3.
(4) The company within thirty days of receiving a notice of withdrawal of consent under sub-rule (3) filed with the Registrar, a notice of such withdrawal of consent and the intimation of the name of another person nominated by the sole member in Form No INC-4 along with fee as provided in Companies (Registration offices and fees) Rules, 2014 and the written consent of such another person so nominated in Form No.INC-3
(5) For the purposes of the third proviso of sub-section (1) of section 3, the subscriber or member of a One Person Company may, by intimation in writing to the company, change the name of the person nominated by him at any time for any reason including death or incapacity to contract of the nominee and nominate another person after obtaining the prior consent of such another person in Form No INC-3.
(6) When the sole member of One Person Company ceases to be the member in the event of death or incapacity to contract and his nominee becomes the member of such One Person Company, a such new member is nominated within fifteen days of becoming a member, a person who shall in the event of his death or his incapacity to contract becomes the member of such company, and the company file with the Registrar an intimation of such cessation and nomination in Form No INC-4 along with the fee as provided in Companies (Registration offices and fees) Rules, 2014 within 30 days of the change in membership and with the prior written consent of the person so nominated in Form No.INC-3.