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What is the object of a company?
Object of the Company refers to the objectives for which a particular company is registered. Memorandum of Association contains the object of the company. Thus, in order to change the Object of the Company, the object clause of MOA needs to be changed.
What is the object clause of a company?
An objects' clause is a provision in a company's constitution stating the purpose and range of activities for which the company is carried on. In UK company law, until reforms enacted in the Companies Act 1989 and the Companies Act 2006, an objects' clause circumscribed the capacity, or power, of a company to act.
What are the clauses of MOA?
A memorandum of association (MOA) contains a name clause, registered office or business location clause, objective or objects clause, liability clause, capital clause, as well as an association clause. Moss are legal documentation that are prepared prior to the registration of limited liability companies (LCS).
What is situation clause?
a clause in a company's memorandum of association stating the amount of share capital with which the company proposes to be registered and the division of it into shares of fixed amount.
How many main objects can a company have?
There is nothing like Other Object Clause in Companies Act, 2013. At present companies can only have above given two types of Objects. One for which company will incorporate and second one are for attaining the main objects.
What is an object clause grammar?
Noun. (plural objective clauses) (grammar) A clause that takes place of the direct object of a verb.
What is the purpose of MOA?
A Memorandum of Agreement (MOA) is a written document describing a cooperative relationship between two parties wishing to work together on a project or to meet an agreed upon objective. An MOA serves as a legal document and describes the terms and details of the partnership agreement.
What is the main purpose of memorandum of association?
Memorandum of Association. Meaning and Purpose of Memorandum The main purpose of the memorandum is to limit the scope of activities and powers of the company. Thus, any act outside the memorandum is ultra vires the company. Such an act is not enforceable and directors involve personal liability for it.
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