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1061. Membership of protected cell company

(1) In a protected cell company—
(a) its non-cell members are members of the company but are not, by virtue of being such members, members of any cell of the company, and
(b) the cell members of a cell created by the company are members of that cell but are not, by virtue of being such members, members of the company or of any other cell of the company.
(2) In subsection (1)—

"cell member", in respect of a protected cell company, means—
(a) a registered holder of a share in a cell of the company, or
(b) a guarantee member of a cell of the company,
"non-cell member", in respect of a protected cell company, means—
(a) a registered holder of a share in the company that is not a share in a cell of the company, or
(b) a guarantor member of the company who is not a guarantor member of the company by virtue of being a guarantee member of a cell of the company.