Section 2 in Sikkim Registration of Companies Act, 1961
2. (i) Any seven or more persons, or where the company to be formed will be a private company any two or more persons association for any lawful purpose may, by subscribing their names, to a memorandum of association and otherwise complying with the requirements of this Act in respect of registration, form an incorporated company, with or without limited liability.
(ii)Such a company may be either;(a)A company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them (in this Act termed "a company limited by shares")(b)a company having the liability of its members limited by the memorandum to such amount as the members may respectively undertake by the memorandum to contribute to the assets of the company in the event of its being wound up (in this Act termed "a company limited by guarantee"); or(c)a company not having any limit on the liability of its members (in this Act termed as "an unlimited company").(d)[ a Company which shall not be a company set up to carry on business in any other State except the State of Sikkim relating to acquisition and transfer of stock or shares, or investment of money or value of money or any form of trade in investments.]
