Section 122 — Applicability of this Chapter to One Person Company

(1) The provisions of section 98 and
sections 100 to 111 (both inclusive) shall not apply to a One Person Company.
(2) The ordinary businesses as mentioned under clause ( a) of sub-section (2) of section 102 which a
company, other than a One Person Company, is required to transact at its annual general meeting, shall be
transacted, in case of One Person Company, as provided in sub-section (3).
(3) For the purposes of section 114, any business which is required to be transacted at an annual general
meeting or other general meeting of a company by means of an ordinary or special resolution, it shall be
sufficient if, in case of One Person Company, the resolution is communicated by the member to the
company and entered in the minutes-book required to be maintained under section 118 and signed and dated
by the member and such date shall be deemed to be the date of the meeting for all the purposes under this
Act.
(4) Notwithstanding anything in this Act, where there is only one director on the Board of Director of
a One Person Company, any business which is required to be transacted at the meeting of the Board of
Directors of a company, it shall be sufficient if, in case of such One Person Company, the resolution by
such director is entered in the minutes -book required to be maintained under section 118 and signed and
dated by such director and such date shall be deemed to be the date of the meeting of the Board of Directors
for all the purposes under this Act.