An OPC limited by shares must comply with the following requirements:
o Must have a minimum authorized share capital of ₹ 1 Lac.
o Transfer of shares to anyone else is not allowed.
o An OPC is prohibited from giving any invitations to the public to subscribe to the securities of the company.
When the OPC limited by shares or by guarantee, enters into a contract with the sole member of the company who is also the director of the company; the terms of contract or offer must be recorded in writing. Also, the same must be contained in a memorandum or recorded in the minutes of the Board meeting held next after entering into the contact.
An OPC must inform the Registrar about every contract entered into by the company with the sole member of the company within a period of fifteen days from the date of approval.