A company is a creation of law, hence it is called as
A company which is incorporated under a special Act is called as
A Company which has only one member is called as one...pesson Cow
Act and SCBT
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Answer:
The incorporation of a company is an artificial entity recognized by the law as a legal person that exists independently with rights and liability
Statutory Companies
Statutory Companies are companies incorporated by means of a special act passed by the central or state legislature.
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Business Laws > Companies Act 2013 > One Person Company
Companies Act 2013
One Person Company
The Companies Act, 2013 completely revolutionized corporate laws in India by introducing several new concepts that did not exist previously. On such game-changer was the introduction of One Person Company concept. This led to the recognition of a completely new way of starting businesses that accorded flexibility which a company form of entity can offer, while also providing the protection of limited liability that sole proprietorship or partnerships lacked.
Several other countries had already recognized the ability of individuals forming a company before the enactment of the new Companies Act in 2013. These included the likes of China, Singapore, UK, Australia, and the USA.