Question

What is a ‘Memorandum’ of Association? Briefly explain its clauses.
Pls answer in long answer​

Answer 1

An important corporate document in certain jurisdiction is called the 'Memorandum of Association'. It is also called MOA of a company.

The MOA contains the object for which the company is formed.

It identifies the scope of its operations and determines the boundaries that it cannot cross.

It is a public document according to section 399 of the companies Act,2013. Hence, any person who enters into a contract, with the company is expected to have knowledge about the MOA.

MOA also contains the details about the powers and rights of the company.

The following statements should be in mind before submitting the MOA..

• Print the MOA.
• Divide it into paragraphs.
• Number the pages in sequence.
• Ensure that atleast 7 people sign it.
• Have atleast one witness to attest the signatures.
• Enter particulars about the signatories and witnesses like address, description, occupation,etc.

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