The persons who sign the Memorandum of Association of a company are called:

Question

Question

This question was previously asked in

UP TGT Commerce 2019 Official Paper

Answer 1

The correct answer is Subscribers to Memorandum of Association.

Key Points

Simply said, a company's charter or bylaws are contained in its memorandum of association.
Memorandum is defined as "memorandum of organisation of a company as originally established or as revised from time to time in pursuance of any earlier company law or of this Act" under the Companies Act of 2013.

Important Points

Each member must print and sign the memorandum of association (7 members in case of Public Company and 2 in case of Private Company and 1 in case of One Person Company).
A minimum of one witness who will verify the subscribers' signatures must be present when the memorandum is signed.
In the case of a one-person business (OPC), the Memorandum of Association must include the nominee's name. The nominee will take over as a member of the company in the event of death or incapacity.