What are the Main Clauses of the MoA?
As per the Companies Act of 2013, the following mandatory clauses are to be included in the MoA:
1. Name Clause
2. Registered Office Clause
3. Object Clause
4. Liability Clause
5. Capital Clause
6. Nominee Clause
Memorandum of Association (MoA) : Meaning, Format, Objectives and Clauses
The provisions of Section 2(20) of the Companies Act, 2013 define a company as a “Company incorporated under this act or any previous company law.” A company is an artificial person that is created by law and has a separate legal entity, perpetual succession, a common seal, and limited liability. As a company is one of the most popular forms of business arrangement among entrepreneurs, it goes through strict and statutory compliance. The compliance of a company is a complex activity that includes many formalities and strict procedures. The formation of a company takes place in stages; every stage involves a set of documents and pre-defined procedures. Among all the other documents, The Memorandum of Association and the Article of Association are the most important documents for an organization.
Geeky Takeaways:
- A company is a separate legal entity that a group of individuals forms to engage in and operate a business organization in a commercial or industrial capacity.
- The Memorandum of Association and the Articles of Association are the most important documents for an organization.
- The Memorandum of Association is also known as the charter of the company. The MoA states all the rights, privileges, and powers of the company.
- The MoA is signed by seven members in the case of a public limited company, whereas in the case of a private limited company, the MoA is signed by at least two subscribers of the company.
Table of Content
- Format of MoA
- Objectives for Registering MoA
- What are the Main Clauses of the MoA?
- Contents of Memorandum of Association (MoA)
- Alteration of Memorandum of Association
- Conclusion
- Frequently Asked Questions (FAQs)
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