Sample object clause in memorandum of association. Kenya Legal Resources: MEMORANDUM OF ASSOCIATION (The Company’s Constitution) 2019-01-08
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The clauses of Memorandum of Association under company Act 2013 and Format of MOA
Cosmetics and herbals To carry on the business of manufacturers, processors, producers, purchasers, sellers, blenders, makers, researchers and dealers in cosmetics, perfumes, scents, sprays, nail polish, fragrances, powders, lavenders, tooth pastes, tooth powder, hair oils, herbals, creams, pomeds, ayurvedic and intermediates and their raw materials. To engage, employ, suspend and dismiss executives, engineers, agents, manager, superintendents, assistants, clerks, coolies and other servants and laborers and to remunerate any such person at such rate as shall be thought fit, to grant bonus, compensation, pension or gratuity to any such person or to his widow or children and generally to provide for the welfare of all the employees. Glass and glass products To carry on all or any of the business of manufacturers, importers, exporters and dealers in glass, glass products including sheets and plate glass, optical glass, glass wool, laboratory ware, bottles, jars, containers, thermobottles, enamel ware and receptacles of all kinds. Computer consultancy To carry on and engage in the business at its own or in association with any Indian or foreign agency, individuals, firm, company or Govt. It should be drafted with utmost sincerity.
Memorandum of Association & Articles of Association ( Formation of a Company)
Since 1 October 2009, if a company's constitution contains any restrictions on the objects at all, those restrictions will form part of the articles of association. Please help me with some reference site where I can check the object list for a type of company. All other social responsibilities and supporting activities and range of other related activities should also be clearly stated in the Memorandum of Association to provide flexibility to undertake new projects as and when the opportunities arise. It is basically a statement that the subscribers wish to form a company under the 2006 Act, have agreed to become members and, in the case of a company that is to have a share capital, to take at least one share each. If you wish to expand your business activities into other areas of the market, you will have to make changes to the memorandum accordingly. To act as brokers, negotiators with bank, financial institution and others for arranging loans and underwriting of shares and debentures and to undertake and carry out promotion and formation of companies, firms, associations, trust and run and manage them for others and on own account and to assist in selection, recruitment and hiring or personnel. As per section 2 28 of the Companies Act memorandum means Memorandum of Association of the company as originally framed or as altered from time to timein pursuance of Company Act 1956.
6 Clauses of the Memorandum of Association Under Section 13 of Companies Act
To plant, cultivate, produce, raise, make marketable , manufacture, import, export, distribute, processmachine, grind, extract, grow, buy, sell, refine, prepare, crush,act as wholesaler, retailer , agent,stockiest, deal in all kinds of oil seeds, wheat, rice and rice brans and other agricultural products and oleaginous and saponaceous substances and all kinds of by — products or ingredients thereof, ghee from whatever source and method including oil seeds, oil cakes rice bran and other oil containing medias, de-oiled cakes, de- oiled meals for consumption, balanced food and baby food,tea, coffee, jute, sugar, sugar cane and other types ofproduce of land to manufacture, process, import, export, sell or otherwise deal in fertilizers of all varieties, D. Doctrine of Indoor Management This doctrine is an exception to the doctrine of constructive notice. Further, division of registered share capital into shares of a fixed amount is also required to be given in the memorandum. It gives protection to the shareholders by ensuring that the funds raised for specified businesses are not going to be risked in another. The memorandum of association of a company being its charter, the right of the company to alter its contents is rigidly limited by the provisions of the Act. The memorandum acts as a legal code or constitution for a company and regulates the relationships between the company and its shareholders, investors, beneficiaries and other members. The most important clause is the object of the company.
Books suitable for moral and spiritual instructions to school going children, containing simple science, stories from epics depicting the life of ideal persons, sages and other renowned personalities. To manufacture and deal in all chemical products such as coaltar products and their intermediates, dyes, drugs, medicines and pharmaceuticals, petroleum and its products, its derivatives, all type of heavy chemicals such as sulphuric and other acids, caustic soda, soda ash, etc. Such requirements tend to be more onerous for public companies than for private ones. Each subscriber must take at least one share and write opposite his name the number of shares he takes. To contact a representative about how Brefi Group can help with organisation and management development, director development and corporate governance, or coaching and coach training, use our. Also, where there are more than 10 subscribers who are shareholders of the company, there is another form created in this document that asks for the particulars of the subscriber. The MoA is a document prepared for the Sometimes, it is called the charter of the company other times, it is just called a memorandum.
Memorandum of Association & Articles of Association ( Formation of a Company)
A shunt, stethoscopes, sphygmomanometers, ampules, butterfly needles, microscopes, ophthalmic instruments and equipments, otoscopes, medical containers, thermometers, plastic and aluminium collapsible tubes and all kinds and varieties of disposable and nondisposable surgical instruments and kits, their parts, fittings, components and accessories used in healthcare, treatment, diagnosis, research, operation and for saving life of human beings. Stamp duty is applicable on this amount. The directors agreed to purchase a concession for making railway in Belgium; and form a company in Belgium called Societe Anonyme to work the concession and it was further agreed that Mr. It regulates the operations of the company. Source: Wikipedia Action: Obtain a copy of your memorandum and articles and study it carefully so that you are aware of any processes and restrictions that might affect your board's behaviour. To open any kind of account in any bank and to draw, make, accept, endorse, discount, negotiate, execute and issue bills of exchange, promissory notes, bills of lading, warrants, debentures and other negotiable or transferable instrument of securities for achieving any of the objects of the Company. Air conditioning and refrigeration To carry on the business of manufacturers of and dealers in all kinds of air conditioning plants, refrigerators, cooling appliances, apparatus and machinery, and all components, parts, accessories, articles and fittings required for that purpose.
Beautician To promote, encourage, establish, provide, maintain, conduct, operate, organise and run beauty parlours and to do business as beautician, manicurists, hair dyers, makers and suppliers of all kinds of wigs and to conduct classes, seminars, demonstrations, education and training programmes in the field of body care and to do all incidental acts as are necessary to attain the main objects of the company. The Registered office of the company will be situated in the State of Maharashtra, i. All other rights and privileges, as agreed upon by shareholder, creditors, investor and other members of the company may also be specified in this charter. To establish and maintain agencies, branches or appoint representatives, agents, canvassers, selling and buying agent in India or abroad for sale, purchase, exchange, hire, distribution or for any one or more of the company and to regulate and or discontinue the same. Investment To carry on the business of an investment company and to buy, sell, hold, underwrite, invest in finance, acquire whether by way of direct subscription, market purchase or otherwise, trade in and deal in odd lot shares, debenture, debenture stock, bonds, gold bonds, unit, whether for own business or for commission, brokerage or otherwise for any other person firm or body corporate, paid, unpaid, partly paid shares, stocks, bonds, debentures, debenture stocks, obligations and securities of all kinds issued or guaranteed by any public or private company, body corporate, government, state, dominion, sovereign, ruler, commissioners, public body or authority supreme, municipal, local or otherwise firm or person whether in India or elsewhere. What is the Memorandum of Association? It simply states that every member of the company has a limited liability.
To manufacture and deal in packaging materials, boxes, bottles, containers, cans, grading, branding, weighting, and marketing for all kinds of foods, foodstuff and goods of every description. You may bookmark this article for quick reference. The shareholders would thereby by unanimous consent have been attempting to do the very thing which, by the Act of parliament they were prohibited from doing. Leasing and hire purchase To carry on the business of financing, leasing, letting on hire, hire purchase or easy payment system for movable and or immovable properties including godowns, sheds, buildings, stores, flats, warehouses, shops, hotels, factories, garages, plants and machines, equipment, apparatus, instruments, appliances, furniture, fixtures, fittings, utensils, tools, vehicles, earth moving machines installations. After obtaining confirmation that the name is a registerable one they should immediately make a written application for its reservation under section 19 1 of the Act. Existing companies may take advantage of this change by passing a special resolution to remove their objects clause.
He cannot successfully sue the company for breach of the contract. Name Clause in the Memorandum of Association confers protection against subsequent company registration in the same or closely similar name. It contains all the rights, privileges, and powers of the corporation. It is the document that governs the relationship between the company and the outside. A shunt, stethoscopes, sphygmomanometers, ampules, butterfly needles, microscopes, ophthalmic instruments and equipments, otoscopes, medical containers, thermometers, plastic and aluminium collapsible tubes and all kinds and varieties of disposable and nondisposable surgical instruments and kits, their parts, fittings, components and accessories used in healthcare, treatment, diagnosis, research, operation and for saving life of human beings.
It is no longer required to state the name of the company, the type of company such as public limited company or private company limited by shares , the location of its registered office, the objects of the company, and its authorised share capital. Riche sued the company for damages for breach of contract. Although there is no legal limit to the maximum amount of capital that can be raised by a company, it cannot increase the authorised share capital once it has been incorporated. Note that if the company intends to provide professional services such as Consultancy, Engineering, Advisory services etc. Thus the name clause of the memorandum consists of the authentic, legal and approved name of the company. A company may be a subscriber of another company. It is subordinate to the Companies Act.
