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memorandum of association By Sanjeev Verma USM-KUK

Published in: Business, Economy & Finance
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  2. 2. MEANING AND DEFINITION <ul><li>Acc to sec. 2(28) of the com act, “Memorandum means the memorandum of association as originally framed or as altered from time to time in pursuance of any previous company law of this act.” </li></ul><ul><li>Lord Cairns says, “ The memorandum contains the fundamental conditions upon which the company is allowed to be incorporated.” </li></ul>
  3. 3. FEATURES OR CHARACTERSTICS OF MOA <ul><li>MOA is the basic charter on which the company is based & is mandatory for a company. </li></ul><ul><li>MOA is the constitution of the company. </li></ul><ul><li>MOA cannot be altered by the company. </li></ul><ul><li>It defines the scope of company’s activities. </li></ul><ul><li>It is public document & open to inspection by those who deal with the company. </li></ul><ul><li>It defines the company’s relation with outside individual & its activities in relation to them. </li></ul>
  4. 4. PURPOSE & IMPORTANCE <ul><li>It is a fundamental document. </li></ul><ul><li>It is an unalterable document </li></ul><ul><li>It defines the limitation of the company’s operation. </li></ul><ul><li>It forms the basis of relationship between the company & outsiders. </li></ul><ul><li>It contains clauses that give important information about the company. </li></ul>
  5. 5. Forms of Memorandum <ul><li>Acc to sec 14 of the com. Act </li></ul><ul><li>Limited company by shares. </li></ul><ul><li>Limited company by guarantee without share capital. </li></ul><ul><li>Limited company by share capital. </li></ul><ul><li>Non-limited company. </li></ul>
  6. 6. SUBJECT MATTER OF MOA <ul><li>Name clause. </li></ul><ul><li>Situation clause. </li></ul><ul><li>Object clause. </li></ul><ul><li>Liability clause. </li></ul><ul><li>Capital clause. </li></ul><ul><li>Association & subscription clause. </li></ul>
  7. 7. ALTERATION OR CHANGE IN MOA <ul><li>Alteration in the Name clause </li></ul><ul><li>By special resolution & permission from central Govt. </li></ul><ul><li>By rectification of omission in name. </li></ul><ul><li>Alteration in registered office or situation clause </li></ul><ul><li>Shifting from one place to another in the same city. </li></ul><ul><li>Shifting from one city to another in the same state. </li></ul><ul><li>Shifting from one state to another. </li></ul><ul><li>Alteration in object clause. </li></ul>
  8. 8. Continue <ul><li>4. Alteration in liability clause. </li></ul><ul><li>Convention of Ltd liability into unlimited. </li></ul><ul><li>Registration of unlimited liability company as limited. </li></ul><ul><li>Alteration in capital clause. </li></ul><ul><li>Increase in share capital </li></ul><ul><li>Reduction in share capital </li></ul><ul><li>Reorganization of share capital. </li></ul>