Section 105: Definition of member

(1) A subscriber of the memorandum of a company shall be deemed to have agreed to become a member of the company, and on its registration shall be entered as the member in its register of members.
(2) Every other person who agrees in writing to become a member of a company, and whose name is entered in its register of members, is a member of the company.
(3) In the case of a company having a share capital, each member is a shareholder of the company and shall hold at least one share, except in relation to a company that has only one shareholder.