Section 65, The Companies Act, 2009

(1) On the commencement of this Act, an individual shallnot be capable of becoming a member of a company if– (a) he is of unsound mind and has been so found by a court; (b) he is an undischarged bankrupt, or (c ) he is less than 18 years of age. (2) After the commencement of this Act, a person who is less than 18 or a person under the age of 18 years shall not be counted for the purpose of determining the legal minimum number of members of a company. (3) A body corporate in liquidation shall not be capable of becoming a member of a company. (4) Where at the commencement of this Act, any person falling within paragraph (a) of subsection (1) is a member of a company by reason of being a shareholder of the company, his share shall vest in his committee or trustee, as the case may be. Official seal for use abroad. Bills of exchange and promissory notes. Cap 229. “member”. 48 49 Capacity to be member. Authentication. (5) Where after the commencement of this Act, any shareholder purports to transfer any shares to a person falling within subsection (1), the purported transfer shall not vest the title in the shares in that person but the title shall remain in the purported transferor or his personal representative who shall hold the shares in trust for that person during the period of his incapacity. (6) Where a member dies intestate, his personal representative shall hold his shares in trust for the persons referred to in subsection (1) during the period of their incapacity. (7) Membership of a company with shares shall continue until– (a) a valid transfer of all shares held by the member is registered by the company; (b) all the shares are transmitted to another person by operation of law; (c) the shares are forfeited for non-payment of calls under a provision in the memorandum; (d) until the member dies. (8) Membership of a company limited by guarantee shall continue until– (a) the member dies or validly retires; or (b) the member is excluded from membership in accordance with any provision in the memorandum or articles.