Memorandum of Association Amendment
Memorandum of Association of a Company sets down the constitution of a company including the permitted range of activities of the company, state of incorporation, type of company, capital clause, liability clause and more. Changes to Memorandum of Association of a company can be required while changing name of a company, changing registered office from state to state. alteration of objects clause, alteration of capital clause or increase of authorised capital. Changes to the Memorandum of Association of a company would require the passing of a special resolution and shareholders consent.
Clauses in the Memorandum of Association (MOA)
There are many of the clauses in the memorandum of association like;
- Name Clause
- Object Clause
- State Clause
- Liability Clause
- Capital Clause
Ways to Amend the MOA of the Company
These are some ways to amend the MOA of the company like;
- By change of the name.
- By changing liability of the members.
- By increase in Authorized share capital.
- By change of registered office of the company.
- By change of the main business object of the company.
Process of Amendment of MOA of the Company
These are some steps in this process like;
Step 1: Conduct the board of the meeting.
Step 2: Call and convene the general meeting of the members.
Step 3: Pass necessary resolution in General Meeting.
Step 4: File necessary forms with the ROC such as MGT-14, SH-7, INC-22 or INC-23.
Step 5: Receipt of certificate of amendment of MOA of the company.
Reasons for MOA Amendment
There are some reasons behind for the amendment of the MOA like;
- Change of the name of the company.
- Change in registered office address of the company.
- Change in business activity of the Company.
- Change in the category of the company such as conversion of Pvt ltd company into public ltd. Company.