Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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1. Reminders for Completing
Form ND-3 and Schedule PT
To avoid delays in processing your property tax credit, be sure to provide the following
information on the Form ND-3 and Schedule PT:
1 Property or Parcel Number. Each parcel must be listed separately. If you have more
than three parcels, also use Schedule PTC to list the additional properties.
2 3-digit County Code – Use the county table included in the instructions. DO NOT use
the county name.
3 The consolidated tax from the 2007 real estate tax statement (or 2008 Mobile Home
tax statement).
4 Your ownership percentage.
1 This is the
Property
or Parcel
Number to
use on the
North
Dakota
income tax
forms.
3
For Form ND-1 or Form ND-2
filers, use Schedule PT and
For ND-3 filers (individuals not
enter the Property or Parcel
required to file Form ND-1 or
Number in Column A.
Form ND-2), enter the Property
or Parcel Number in Column A.
2 3
1 4
1 2 4
3
