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The Memorandum of Association (MOA) is an important document of a company in certain Jurisdictions. While incorporating a Section-8 company, the memorandum is mandatory to be filed with the Registrars of Companies (ROC) and the Ministry of Corporate Affairs (MCA). It shows the company’s initial capital and the ‘object clause’ which lets the shareholders, creditors, and those dealing with the company know about what is the limit of range of operation.
For numbers of reasons, a Section 8 company’s MOA 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 of the Section-8 company should be organized to approve the MOA Amendment from the managing authority.
Following the Board Meeting, the company’s Director should approve the MOA Amendment process 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 Section 8 Company.