What are the objects of memorandum of association?

What are the objects of memorandum of association?

Object of registering a Memorandum of Association or MOA The MOA of a company contains the object for which the company is formed. It identifies the scope of its operations and determines the boundaries it cannot cross. It is a public document according to Section 399 of the Companies Act, 2013.

Is object clause for memorandum of association?

The object clause of Memorandum of Association states the purpose of incorporation of the company. This is an important clause since any company performing an act beyond the objects makes it ultra vires. The subscribers of the company decide its objects while incorporating it.

Can a company be incorporated with different objects?

Yes, a company can register for multiple businesses, but it depends on whether the activities are related or not. The company can carry more than one activity with the consent of the members. However, all the activities which are listed should pertain to the main business of the company.

What is the object clause?

An objects clause is a provision in a company’s constitution stating the purpose and range of activities for which the company is carried on. A clause is only relevant in an action against a director for breach of duty under section 171 for failure to observe the limits of their constitutional power.

Can a memorandum of association change the object clause?

It is to be noted that if the company intending to do any activity which is not mention in the memorandum of association of the company, it has to follow the process of changing the object clause of the Memorandum and attain member’s approval by passing special resolution along with approval of the Registrar of Companies.

What is the object clause of a memorandum of company?

The main object clause of the Memorandum of the company reflects the business activity to be carried out by the company.

Which is the most important clause in the Memorandum of association?

It is the place where all the statutory books, records and registers of the company shall be maintained. 3. Objects Clause: It is the most important clause in the Memorandum of Association. It defines and limits the scope of operations of the company.

What are the provisions of the other object clause?

In fact, they were business activities other than those contained in main objects. For pursuing any activity which is mentioned therein the clause of OTHER OBJECTS of the Memorandum of Association of the Company, the company needs to comply with the provisions of Section 149 (2A) & (2B), i.e.-