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The Memorandum of Association, MOA, is an important document of a Public Limited Company in certain Jurisdictions. It shows the company’s initial capital and the ‘object clause’ which lets the shareholders, creditors, and those dealing with the Public Limited Company know about what is the limit of range of operation.
It contains the Article of Association (AOA) as the company’s internal constitution for regulating the business operation and at the time of incorporation, the memorandum is mandatory to be filed with the Registrar.
Due to several reasons, a Limited Company’s Memorandum of Association can be modified or amended. In the process, the concerned organization is required to follow the provisions of the Companies Act, 2013 and the guidelines of the Registrar of Companies ROC.
A Board Meeting should be organized by the Limited Company to approve the MOA Amendment from the Board of Directors.
Following the Board Meeting, the company’s shareholders should be addressed to get approval on the MOA Amendment by passing a special resolution.
Following the completion of the process, the amended MOA should be recorded in all the official documentation of the concerned organization.