What is the difference between a member and a shareholder?

A shareholder is a person who owns the share in a company whereas a member is a person whose name is entered or recorded in the register of Members maintained by the Company. The name of a person will be entered or recorded in the register of members, in the capacity of a subscriber upon registration of a company, and later if any person agrees in writing to become a member of the company.

Every member may not be a shareholder and likewise every shareholder may not be a member.