Any seven persons who subscribe to a Memorandum of Association (MOA) can register a society. There is no restriction for maximum numbers.
Difference between Society, Trust & Section 8 Company
| Description | Trust | Society | Section 8 Company |
|---|---|---|---|
| Statute / Legislation | State Trust Act. | Societies Registration Act. | Companies Act |
| Jurisdiction of the Act | Concerned state where it is registered | Concerned state where it is registered | National |
| Authority | Charity Commissioner | Registrar of Societies | Registrar of Companies |
| Registration | As Trust | As Society | AOA & MOA |
| Stamp Duty | Trust Deed to be executed on non-judicial stamp paper of prescribed value. | No stamp paper required MOA (by law) and rules of regulations | As per companies Act |
| Authority | Charity Commissioner | Registrar of Societies | Registrar of Companies |
| Minimum Person Required | Trustees | Executive Committee | Board of Directors / Management Committee |
| Mode of Succession of Board of Management | By Appointment | Elected by Members | Elected by Members |
