Q.Who can acquire membership?

Any person competent to contract (a major of sound mind) can become a member; and, subject to conditions, so can a minor (via guardian), a company, a partnership firm, an HUF (via karta), a trust/society, a foreigner/NRI, and the government.

Membership of a company can be acquired by any person or entity legally capable of holding shares and entering into a contract, unless the Articles impose restrictions. The main categories are:

1. Individuals competent to contract — an adult (major) of sound mind who is not disqualified by law is fully eligible to become a member.
2. Minor — a minor cannot contract in his own name, but shares may be held on his behalf through a lawful guardian; on attaining majority he may continue or repudiate.
3. Company / body corporate — a company can become a member of another company (if authorised by its objects) and acts through a representative.
4. Partnership firm — a firm may hold shares in the name of its partners; the partners jointly are the members.
5. Hindu Undivided Family (HUF) — shares may be held for the HUF through its karta (head).
6. Trust / society / registered institution — may become members through their authorised office-bearers. …