What is Memorandum of Association? Explain the law relating to the alteration of Object
clause.
Answers
Explanation:
Alteration of object clause of MOA under Companies Act 2013. The object clause of the Company is the third clause of memorandum of association of any Company stating the objects i.e. the business/purpose for which the Company is incorporated and any other matter considered necessary in furtherance thereof.
Memorandum of Association and the law relating to the alteration of Object clause.
Explanation:
Memorandum of Association defines the scope of activities. It should contain the name, the place where the registered office is situated, authorized capital and the objectives of the business. It should be printed and duly stamped, signed after witnessing.
The alteration of Object clause involves passing a special resolution to call general meeting for its members and file certified copy of special resolution with the central government. Next, the application is scrutinized by the government. After confirming the alteration, it is registered.
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What is Memorandum of Association? Explain the law relating to the alteration of Object clause.
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