Memmrandum of Association and Its Object Clauses
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NAME: BABOUCARR BOJANG
MAT #: 2101080
SCHOOL: BUSINESS AND PUBLIC ADMINSTRATION
SUBJECT: COMPANY LAW
ASSIGNMENT: MEMORANDUM OF ASSOCIATION AND ITS OBJECT CLAUSES
Memorandum of Association
This is a document that regulates a firm's external activities and must be drawn up on the formation of a registered or incorporated firm. As the firm's charter it (together with the firm's articles of association) forms the firm's constitution. Also called 'memorandum,' it gives the firm's name, names of its members (shareholders) and number of shares held by them, and location of its registered office. It also states the firm's
(1) Objectives,
(2) Amount of authorized share capital,
(3) Whether liability of its members is limited by shares or by guaranty
(4) What type of contracts the firm is allowed to enter into.
Almost all of its provisions (except those mandated by corporate legislation) can be altered by the firm's members by following the prescribed procedures. The memorandum is a public document and may be inspected (normally on payment of a fee) by anyone, usually at the public office where it is lodged.
The memorandum of association of a company, often simply called the memorandum (and then often capitalized as an abbreviation for the official name, which is a proper noun and usually includes other words), is the document that governs the relationship between the company and the outside. It is one of the documents required to incorporate a company in the United Kingdom, Ireland, Pakistan and India, and is also used in many of the common law jurisdictions of the Commonwealth.
While it is still necessary to file a memorandum of association to incorporate a new company, it no longer forms part of the company’s constitution and it contains limited information compared to the memorandum that was required prior to 1 October 2009.
It is basically a statement that the subscribers wish to form a company under the 2006 Act, have agreed to become...
MAT #: 2101080
SCHOOL: BUSINESS AND PUBLIC ADMINSTRATION
SUBJECT: COMPANY LAW
ASSIGNMENT: MEMORANDUM OF ASSOCIATION AND ITS OBJECT CLAUSES
Memorandum of Association
This is a document that regulates a firm's external activities and must be drawn up on the formation of a registered or incorporated firm. As the firm's charter it (together with the firm's articles of association) forms the firm's constitution. Also called 'memorandum,' it gives the firm's name, names of its members (shareholders) and number of shares held by them, and location of its registered office. It also states the firm's
(1) Objectives,
(2) Amount of authorized share capital,
(3) Whether liability of its members is limited by shares or by guaranty
(4) What type of contracts the firm is allowed to enter into.
Almost all of its provisions (except those mandated by corporate legislation) can be altered by the firm's members by following the prescribed procedures. The memorandum is a public document and may be inspected (normally on payment of a fee) by anyone, usually at the public office where it is lodged.
The memorandum of association of a company, often simply called the memorandum (and then often capitalized as an abbreviation for the official name, which is a proper noun and usually includes other words), is the document that governs the relationship between the company and the outside. It is one of the documents required to incorporate a company in the United Kingdom, Ireland, Pakistan and India, and is also used in many of the common law jurisdictions of the Commonwealth.
While it is still necessary to file a memorandum of association to incorporate a new company, it no longer forms part of the company’s constitution and it contains limited information compared to the memorandum that was required prior to 1 October 2009.
It is basically a statement that the subscribers wish to form a company under the 2006 Act, have agreed to become...