A legitimate mechanism

[motico]

Could you tell me if the following sentence is grammatically correct? (Put its reason aside…)

There is no single company which holds a legitimate mechanism for replacing the management.

Or is this better:

Not a single company holds a legitimate mechanism for replacing the management.

[Barb_D]

Ignoring how little sense it makes, the first sounds like if two or more joined up, it might work. There is no single one, but a couple together could...

The second one says no company exists.