What is memorandum association introduction?
An introduction of memorandum of association outlines when a company can be incorporated and also informs shareholders of the company’s purpose.
What is a memorandum of association in Kenya?
A memorandum of association contains a name clause, registered office clause, object (or objective clause), objects clause, liability clause, capital clause, and association clause. An MOA is a type of legal paper that is prepared when forming and registering a limited liability company (LLC).
What is the main purpose of memorandum of association?
Memorandum of Association is a legal document which describes the purpose for which the company is formed. It defines the powers of the company and the conditions under which it operates. It is a document that contains all the rules and regulations that govern a company’s relations with the outside world.
What do you understand by memorandum of association What are its contents explain?
The MOA describes the basic identification details of a Company such as name of the company, situation of registered office of the company, business objects of the company, nature of business liability of promoters and Name and address of initial subscribers to the Memorandum of Association.
What are major contents which are required for a memorandum of association?
The following information is mandatory in an MOA:
- Name Clause. For a public limited company, the name of the company must have the word ‘Limited’ as the last word.
- Registered Office Clause.
- Object Clause.
- Liability Clause.
- Capital Clause.
- Association Clause.
- For One-Person-Company.
- A few things to remember.
What are the main clauses of memorandum of association?
Main Clauses of Memorandum of Association
- Name Clause. A legal entity, as obvious as it may be, must have a name, which forms the identity of the enterprise.
- Domicile Clause.
- Objects Clause.
- Liability Clause.
- Capital Clause.
- Subscription Clause.