The document provides an overview of key changes between the Companies Act, 1956 and the Companies Act, 2013. Some of the major changes include an increase in the number of chapters and sections in the new act, the introduction of new types of companies like One Person Company, more stringent requirements for public deposits and charges, and changes to provisions related to annual general meetings, board meetings, and share capital. The new act also includes updated definitions for terms like associate company, promoter, and small company.
COMPARATIVE STUDY ON FIVE MUTUAL FUNDS.RESEARCH METHODOLOGY, COMPANY PROFILE, DATA ANALYSIS, FINDING, SUGGESTION, CONCLUSION,BIBLIOGRAPHY AND QUESTIONNAIRE ALL OF IT IS HERE IN THIS PROJECT.
SORRY I CAN'T ADD THE TABLE BUT ALL YOU NEED IS HERE IN THIS PROJECT.
COMPARATIVE STUDY ON FIVE MUTUAL FUNDS.RESEARCH METHODOLOGY, COMPANY PROFILE, DATA ANALYSIS, FINDING, SUGGESTION, CONCLUSION,BIBLIOGRAPHY AND QUESTIONNAIRE ALL OF IT IS HERE IN THIS PROJECT.
SORRY I CAN'T ADD THE TABLE BUT ALL YOU NEED IS HERE IN THIS PROJECT.
A Project Report on National Stock Exchange (NSE)Projects Kart
A Project Report on National Stock Exchange (NSE). Money market is a market for debt securities that pay off in the short term usually less than one year, for example the market for 90-days treasury bills. This market encompasses the trading and issuance of short term non equity debt instruments including treasury bills, commercial papers, bankers acceptance, certificates of deposits, etc.
In other word we can also say that the Money Market is basically concerned with the issue and trading of securities with short term maturities or quasi-money instruments. The Instruments traded in the money-market are Treasury Bills, Certificates of Deposits (CDs), Commercial Paper (CPs), Bills of Exchange and other such instruments of short-term maturities (i.e. not exceeding 1 year with regard to the original maturity). Visit http://www.projectskart.com/p/contact-us.html for more information.
MEANING AND DEFINITION OF COMPANY, IT'S CHARACTERISTICS AND TYPES OF COMPANYKhushiGoyal20
This slide share is of subject company law . In this you will learn about meaning and definition of company , types / kinds of company (private , public , holding , subsidiary , limited liability and unlimited liability company etc.) , and its characteristics.
Study on Prospectus according to companies act 1956 and different case studies which would help you understand the provisions well. It's important to look at companies act 2013 for amendments made, so that much more clarity can be obtained.
The Indian economy has a variety of companies existing in its market such as public companies, private companies, investment companies, limited liability companies etc.
These numerous entities in the market may look different from each other on the surface but based upon certain identifiable common characteristics they can be grouped into below-mentioned classifications. This article aims to draw your attention towards the conventional classification of the companies that are made based upon factors such as liability, control, incorporation, transferability of shares etc.
Difference between company llp and partnership firm Sandeep Kumar
This slide give an idea to the reader that how company LLP is different as compare to the partenership firm . so after going through these slides they would easly understood the concept and good understanding out of it
1. Origin Of Companies Act in India
2. What is a Company?
3. Definition & Characteristics
4. Different Type Of Entities:
a. On Basis Of Liability
b. On Basis Of Registration
5. Small Company
6. Private Company
7. Public Company
8. Unlimited Company
9. Foreign Company
10. Government Company
11. Holding, Subsidiary, Associate Company
12. Investment Companies
13. Promoters
14. Incorporation Of Registration
15. MOA, AOA
16. Tata Sons Vs Cyrus Mistry
17. Vodafone Tax Case
A Project Report on National Stock Exchange (NSE)Projects Kart
A Project Report on National Stock Exchange (NSE). Money market is a market for debt securities that pay off in the short term usually less than one year, for example the market for 90-days treasury bills. This market encompasses the trading and issuance of short term non equity debt instruments including treasury bills, commercial papers, bankers acceptance, certificates of deposits, etc.
In other word we can also say that the Money Market is basically concerned with the issue and trading of securities with short term maturities or quasi-money instruments. The Instruments traded in the money-market are Treasury Bills, Certificates of Deposits (CDs), Commercial Paper (CPs), Bills of Exchange and other such instruments of short-term maturities (i.e. not exceeding 1 year with regard to the original maturity). Visit http://www.projectskart.com/p/contact-us.html for more information.
MEANING AND DEFINITION OF COMPANY, IT'S CHARACTERISTICS AND TYPES OF COMPANYKhushiGoyal20
This slide share is of subject company law . In this you will learn about meaning and definition of company , types / kinds of company (private , public , holding , subsidiary , limited liability and unlimited liability company etc.) , and its characteristics.
Study on Prospectus according to companies act 1956 and different case studies which would help you understand the provisions well. It's important to look at companies act 2013 for amendments made, so that much more clarity can be obtained.
The Indian economy has a variety of companies existing in its market such as public companies, private companies, investment companies, limited liability companies etc.
These numerous entities in the market may look different from each other on the surface but based upon certain identifiable common characteristics they can be grouped into below-mentioned classifications. This article aims to draw your attention towards the conventional classification of the companies that are made based upon factors such as liability, control, incorporation, transferability of shares etc.
Difference between company llp and partnership firm Sandeep Kumar
This slide give an idea to the reader that how company LLP is different as compare to the partenership firm . so after going through these slides they would easly understood the concept and good understanding out of it
1. Origin Of Companies Act in India
2. What is a Company?
3. Definition & Characteristics
4. Different Type Of Entities:
a. On Basis Of Liability
b. On Basis Of Registration
5. Small Company
6. Private Company
7. Public Company
8. Unlimited Company
9. Foreign Company
10. Government Company
11. Holding, Subsidiary, Associate Company
12. Investment Companies
13. Promoters
14. Incorporation Of Registration
15. MOA, AOA
16. Tata Sons Vs Cyrus Mistry
17. Vodafone Tax Case
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
3. NEW CHAPTERS INCLUDED
IN COMPANIES ACT 2013
Chapter Description Chapter Number
Registered Valuers Chapter 17
Government Companies Chapter 23
Companies to Furnish Information or Statistics Chapter 25
Nidhis Chapter 26
National Company Law Tribunal & Appellate Tribunal Chapter 27
Special Courts Chapter 28
4. Gist of the Companies Act,
2013 – List of Chapters
Sr No Chapter Title
1 Chapter I Preliminary
2 Chapter II Incorporation of Company and Matters Incidental Thereto
3 Chapter III Prospectus and Allotment of Securities
Part I: Public Offer
Part II: Private Placement
4 Chapter IV Share Capital and Debentures
5 Chapter V Acceptance of Deposits by Companies
6 Chapter VI Registration of Charges
7 Chapter VII Management and Administration
8 Chapter VIII Declaration and Payment of Dividend
9 Chapter IX Accounts of Companies
10 Chapter X Audit and Auditors
11 Chapter XI Appointment and Qualifications of Directors
12 Chapter XII Meeting of Board and Its Powers
13 Chapter XIII Appointment and Remuneration of Managerial Personnel
14 Chapter XIV Inspection, Inquiry and Investigation
15 Chapter XV Compromises, Arrangements and Amalgamations
5. 16 Chapter XVI Prevention of Oppression and Mismanagement
17 Chapter XVII Registered Valuers
18 Chapter XVIII Removal of Names of Companies from the Registrar of Companies
19 Chapter XIX Revival and Rehabilitation of Sick Companies
20 Chapter XX
Winding Up
Part I: Winding up by the Tribunal
Part II: Voluntary Winding up
Part III: Provisions applicable to every mode of Winding up
Part IV: Official Liquidators
21 Chapter XXI
Part 1- Companies Authorised to Register Under This Act &
Part 2- Winding up of Unregistered Companies
22 Chapter XXII Companies Incorporated Outside India
23 Chapter XXIII Government Companies
24 Chapter XXIV Registration Offices and Fees
25 Chapter XXV Companies to Furnish Information or Statistics
26 Chapter XXVI Nidhis
27 Chapter XXVII National Company Law Tribunal and Appellate Tribunal
28 Chapter XXVIII Special Courts
29 Chapter XXIX Miscellaneous
6. New Definations
(Section 2)
Clause 6 – Associate company – It means a company in which any other company has a
significant influence excluding subsidiary company but including a JV company.
Note : Significant influence means control of atleast 20 % of total share capital or of business
decisions under an agreement
Clause 38 – Expert – It includes an engineer, a valuer, a CA, a CS, a cost accountant and any
other person who has the power or authority to issue a certificate in pursuance of any law for
the time being in force.
Clause 39 – Financial Institution – It includes a scheduled bank and any other financial
institution defined or notified under the RBI Act, 1934.
Clause 40 – Financial statement – it includes
(i) Balance sheet as at the end of the FY
(ii) Profilt & loss account or in case of a company carrying on any activity not for profit, an
income and expenditure account for the FY
(iii) Cash flow statement for the FY [not compulsory for OPC, small company and dormant
company]
(iv) A statement of changes in equity, if applicable and
(v) any explanatory note annexed to or forming part of, any document referred to in sub clause
(i) to (iv)
Clause 41 - Financial Year - in relation to any company or body corporate, means the period
ending on the 31st
day of March every year in order to align with the provisions of the income
tax act.
Clause 51 - Key Managerial Personnel – it means
- CEO or MD or Manager
- CS
- Whole time director
- CFO and
- such other officer as may be prescribed
7. Clause 62 – One Person Company [OPC]
1. It is a hybrid of Sole-Proprietor and Company form of business.
2. It enables Entrepreneur(s) carrying on the business in the Sole-Proprietor form of
business to enter into a Corporate Framework.
3. Only a natural person who is an Indian citizen and resident in India shall be eligible to
incorporate it.
4. It will be formed as a private limited company.
5. One person Company can be:
- Limited by shares
- Limited by guarantee
- Unlimited company
6. Capital:
- Minimum – Rs. 100,000
- Maximum – No limit
7. The MOA of the One person company to include:
- Name of Nominee
- Consent of Nominee
8. It is required to specifically mention the word “one person company” below the name
wherever it is used.
9. Other Provisions:
- Cash flow statement is not required.
- Annual Return can be signed by CS or one director if there is no CS.
- Provisions of board meeting, quorum and interested director shall not apply to OPC.
- OPC should have minimum 1 director.
- OPC need not hold an AGM.
- Financial Statements can be signed by only one director.
Clause 69 – Promoter - It means a person
(a)who has been named in prospectus or identified by the company in the annual return or;
(b)who has control over the affairs of the company either directly or indirectly.
(c) whose advice, directions or instructions the BOD is accustomed to act.
Clause 85 - Small company - It means a company having
(i) Paid-up share capital of which does not exceed 50 lakh INR or such higher amount as may be
prescribed which shall not be more than 5 crore INR.
(ii) Turnover of which as per its last profit & loss account does not exceed 2 crore INR or such
higher amount as may be prescribed which shall not be more than 20 crore INR:
8. Section 455 - Dormant Company - Where a company is formed and registered under this Act for
a future project or to hold an asset or intellectual property and has no significant accounting
transaction, such a company or an inactive company may make an application to the Registrar
for obtaining the status of a dormant company.
Nature and kinds of companies
Basis Companies act 1956 Companies act 2013
Types of Companies Public company
Private company
Public company
Private company
One Person company
Maximum no of members for
private companies
50 members 200 members
One person company No provision for OPC New Concept Introduced
Subsidiary company A company is deemed to be a
subsidiary of another company
(a)Where the composition of
BOD is controlled by the other
company. i.e. appointment,
removal or nomination.
(b)Where the other company
holds majority of the voting
power or the capital of the
company. i.e. 51%
(c)Where any company is a
subsidiary company of the
subsidiary of the company.
It means a company in which the
holding company
- Controls the composition of the
Board of Directors; or
- Exercises or controls more than
one half of the total share capital
either at its own or together
with one or more of its
subsidiary companies.
[Clause 87]
Note: The definition of Public Company provides that a private subsidiary of a public company shall be
deemed to be a public company even though the subsidiary may continue to retain the status of a
private company in the Articles.
9. Incorporation of companies
Basis Companies act 1956 Companies act 2013
Certificate of Incorporation Conclusive Evidence Not treated as Conclusive
Evidence.
Commencement of Business
Provision is applicable only to
Public limited companies
Now applicable to all
companies (Public and Private)
having share capital.
Certificate of COB Issued to the public company. No certificate will be issued.
Note: Documents to be submitted under new act:
1. Declaration by Directors of payment of money by subscribers of MOA.
2. Verification of Registered office filed with ROC.
MOA & AOA of the company
Basis Companies act 1956 Companies act 2013
Object clause of MOA Divided into
- Main objects
- Incidental or ancillary objects
- Other objects
Divided into
- Objects to be pursued by
Company on incorporation
- Incidental Objects.
Alteration of AOA To be filed with ROC within 30
days
To be filed with ROC within 15
days
Registered Office Company shall have RO within
30 days of incorporation.
Company shall have RO within
15 days of incorporation.
Alterations It includes additions and It includes additions, omissions
10. deletions. and substitutions.
[Clause 3]
Note: Articles may Contain Provisions for Entrenchment.
It states that
The Articles may contain provision for entrenchment to the effect that specified provisions of the
articles may be altered only upon the satisfaction of conditions or procedures that are more restrictive
than those applicable in the case of a special resolution.
Prospectus
Basis Companies act 1956 Companies act 2013
Shelf Prospectus It was available to any public
financial institution, public sector
bank or scheduled bank whose
main objects were financing.
Now it is available to any class or
classes of companies as
prescribed by SEBI.
Public offer of Securities to be in
Dematerialized Form Only.
Mandatory Sec 68B
For every listed company making
IPO of any security for a sum of
Rs 10 crore or more.
Mandatory Clause 29 for:
-Every companies making public
offer.
-Any other class or classes of
public companies as may be
prescribed.
Allotment of Securities
Basis Companies act 1956 Companies act 2013
Return of Allotment Earlier return of allotment of
share is required to be filled
only.
Now , return of allotment for all
types of securities is required to
be filled.
Note: Clause 2(81) – Securities means the securities as defined in Clause (h) of Section 2 of the
Securities Contracts (Regulation) Act, 1956.
11. Securities broadly includes shares, debentures , bonds, scrips or any other marketable securities
including derivatives.
Shares and Share Capital
Basis Companies act 1956 Companies act 2013
Issue of Shares at Discount Under Section 79
Shares can be issued at discount
with subject to certain
conditions.
Under Clause 53
- Issue of shares at discount
prohibited.
-Sweat Equity shares can be
issued at Discount.
Issue of preference shares for
more than 20 years.
Section 80
It prohibits the issue of
Irredeemable preference
shares and preference shares
redeemable after 20 years.
Clause 55(2)
Redeemable preference shares
with a term of more than 20
years can be issued by a
company limited by shares for
Infrastructural Projects.
Right issue of shares Section 81
Applicable to public company
only.
Clause 62
Applicable to both public and
private company.
Notice of redemption of
Preference share.
No such notice is required to be
filled with ROC.
Notice is required to be filled
within 30 days.
Consolidation and division of
Shares
Company is permitted to
consolidated or sub divide its
shares by passing resolution in
general meeting.
Consolidation and division
which results in changes in the
voting % of shareholders shall
require approval of the
Tribunal to be effective.
Restrictions on further offer of
Buy-back
Where buy back is by BOD (10
% of the total paid up equity
share capital and free
reserves), no further offer of
buy back is permissible within 1
year from the date of last offer
of buy back.
Section 77A
No offer of buy back shall be
made within a period of 1 year
reckoned from the date of the
closure of the preceding offer
of buy back whether approved
by BOD or Shareholders.
Clause 68
12. Charges
Basis Companies act 1956 Companies act 2013
Charge It includes a mortgage.
Section 124
It means an interest or lien
created on the property or
assets of a company or any of its
undertaking or both as security
and includes a mortgage.
[Clause 16]
Registration of charges Only 9 types of charges is
required to be registered.
Company are required to
register all types of charges
within or outside India, on its
property or assets or any of its
undertakings, whether tangible
or otherwise, and situated in or
outside India with ROC within
30 days.
Time limit for registration From the creation of charge -30
days.
Additional time – 30 days
On the payment of additional
fee to Registrar along with the
sufficient reason of the delay.
Registrar may on application
and payment of additional fees
create the registration of
charge within 300 days.
Debenture
Basis Companies act 1956 Companies act 2013
Debenture It creates a debt or
acknowledges a debt.
It includes debenture stock,
bonds or any other instrument
of a company evidencing a debt,
whether constituting a charge on
the assets of the company or
not.
Note : it clarifies that only those
13. Section 2 (12)
instruments which evidence a
debt will be treated as
debenture.
[Clause 30]
Public Deposits
Basis Companies act 1956 Companies act 2013
Eligibility Public companies are permitted
to accept deposits from public
and shareholders in accordance
with Companies (Acceptance of
Deposits) Rules 1975.
(Section 58A)
Banking company, NBFC and
such other company as the CG
may specify are permitted to
accept deposits from public.
Rules Applicability of Companies
(acceptance of deposits) Rules,
1975.
To be framed by RBI
Applicability To all public companies. To public companies having such
net worth or turnover as may be
prescribed by CG.
Credit Rating Not required -Mandatory
-From Recognized rating agency
-To be obtained every year
during the tenure of deposits.
Conditions -issue of advertisement for
inviting deposits in newspaper
or
statement in lieu of
advertisement to be filled with
ROC.
-deposits are unsecured.
-no default in repayment of any
deposit
-passing of resolution in a
general meeting
-issue of circular to members
-filing a copy of the circular along
with the registrar
-Providing deposit insurance
-Certification by the Company
that it hasn’t defaulted in the
repayment of Deposits
14. -deposit receipts to be issued by
the company.
- filling of return of deposits
-Provision of security in respect
of deposit and interest and
creation of charge
Statutory Meetings
Basis Companies act 1956 Companies act 2013
Applicability Every public company having
share capital is required to
conduct Statutory Meeting.
No company is required to
conduct Statutory Meeting.
Board Meeting
Basis Companies act 1956 Companies act 2013
Length of Notice No specific length. Not less than 7 days.
Time gap between two
meetings
At least one meeting to be held
in every quarter.
Not more than 120 days
between two consecutive
meetings.
Annual General Meeting
Basis Companies act 1956 Companies act 2013
Time period for holding 1st
AGM Within 18 months of
incorporation
Or
9 months from the closure of FY
Whichever is earlier.
9 Months from closure of
accounts
15. Time of AGM During business hours During business hours i.e. 9 AM
to 6 PM.
Day of AGM Any day that is not a Public
holiday.
Any day that is not a National
Holiday.
Mode of notice In writing In writing or in electronic form.
Consent for shorter notice Consent to be given by all
members entitled to vote at the
meeting.
Consent to be given by not less
than 95% of the members
entitled to vote at the meeting
Quorum Private co – 2 members
Public co – 5 members
Private co – 2 members
Public co –
- 5 members where no. of
members is < 1000
- 15 members where no. of
members is >1000 but ≤ 5000
- 30 members where no. of
members is > 5000