You are a Speaker on Corporate Laws at a Seminar. One person from the audience has sought your opinion on the following matters: Can an Insolvent be a member in a company?

Insolvent as member: Yes, An insolvent may be member as long as he is on the Register of members. He is entitled to vote, but he loses all beneficial interest in the shares and company will pay dividend on his shares to the Official Assignee or Receiver (Morgan Vs. Gray, (1953) ALL E.R. 213)