Give two features of MOA.
Answers
Answer:
The MOA of the company contains the object for which the company is formed . It identifies the scope of it's operations and determines the boundaries it can't cross. It is a public document according to Section 399 of the companies of Act , 2013 . It contains the details about the powers and rights of the company.
Answer:
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Memorandum is the document of the company which contain all the information regarding company and also known as company foundation . It contains name, registered office, objects and company capital as well as limit of liabilities of the members of the company.It is signed by the company members and required for registration of company to its registrar.
According to Lord Justice Cairns,“ The memorandum of association of a company is its charter and defines the limitations of the company established under the Act.”
According to Justice Charlesworth, “Memorandum is the company charter and defines the limitations of powers of the company.”
Lord Justice Bowen states that,“ the memorandum of association of a company contains fundamental conditions upon which alone the company is allowed to be incorporated.”
Thus, a memorandum is a fundamental document of a company which contains information about the company including name ,place of registered office,objects , liability of company members and capital of company.It contain name,signatures and other particulars of the persons of company members.
Characteristics / Features :
The main features of memorandum of association are discuss below –
It is a fundamental document of a company.
It is essential to every company to prepare its own memorandum.
It should be in written form.
It contains Name, signature and other particulars of persons.
On registration of memorandum , the company is deemed to have been registered.
It contains information regarding company information.
Memorandum is a public document after registration and inspected.
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