So, a colleague of mine said she was trying to remove two shareholders and add retain only one but CAC queried it.
It may seem as though, CAC application of single shareholder and single director only applies to newly registered limited by shares company. That is companies that were registered from 2021.
Those that were registered from 2020 it is not allowed.
So, if you an old limited by shares company and you want to change shareholders, the minimum the company can have is two.
If you are trying to add a new shareholder and then transfer all shares to the new shareholder, it cannot be possible. You can only remove some percentage of shares, and transfer to the new shareholder.
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