By paying off any paid-up capital which is in excess of the needs of the company. The company is required to follow the following procedure to change its objects: The company must ensure that the alteration does not go contrary to the Alteration memorandum of the memorandum of association. Required returns shall have to be filed with the Registrar of Companies within 30 days of passing the resolution.
OR b To attain its main purpose by new improved means. What are the objects of a company. Sections 16, 17, 18, 19, 21, 23 and 37Corresponding provisions of the English Companies Act, Sections 37, 77 to 81 change of name and 87 Applicability: A copy of the Authority's order confirming the alteration, along with the printed copy of the altered memorandum, shall be filed by the company with the registrar for intimation.
Alteration of the Capital Clause of MoA The capital clause of a company can be altered for any one of the following purposes: Any business outside the scope of the activities in the MOA is illegal and beyond the power of the company.
A company can alter its objects. A special resolution is required to be passed by the shareholders. Share capital of a company can be reduced by — reducing or extinguishing the liability of members on unpaid capital, writing off the paid-up capital which is not represented by the assets, returning the surplus of the paid-up capital.
It may consolidate and divide its share capital into shares of a larger amount. The company must pass a special resolution for reduction of capital. Limits with in which a company can alter its object clause: To enlarge or change the local area of operation.
The following procedure should be followed for the purpose: Legal effect of not to follow the procedure: However, in case of alteration of authorised share capital as stated in e aboveconsent of members by way of ordinary resolution as stated in section 61 is required.
This Article includes the following: It has to send a notice to the registrar regarding any change of the situation clause of the registered office of the company within 28 days, [Section, 77 2 ].
The procedure for alteration of capital is as under: A company limited by shares, may reduce its share capital in any of the following ways: Summary of forms and records: OR d To carry on some other business which may be conveniently combined with its own.
The plural form is either memoranda or memorandums. Alteration of capital clause of memorandum of association Alteration of object clause.
The object clause can be changed by passing a special resolution and by getting the permission of the company law board. The next step would be the delivery of the printed copy of the article and printed copy of the resolution to Corporate Affairs commission within 15 days of passing the resolution.
Alteration is made with in the following limits: A company can shift its registered office from one place to another place within the same city, town or village or from one province to another province. Accordingly, the company as well as its officer who is in default or such other person shall be punishable with fine upto Rs.
Procedure for alteration of Conditions in Memorandum of Association Alteration of the Conditions of Memorandum of Association The condition or the obligatory clauses of the Memorandum of Association can be altered in the manner stated below. Therefore, alterations resulting in additional liability on a member cannot be made except with the written consent of the member concerned.
Alteration of liability clause: Newspaper advertisement [section 13 8 i and rule 2.
Change of Registered Office from one State to Another The change of registered office from one state to another state involves alteration of Memorandum, and the change can be effected by a special resolution of the company which must be confirmed by the Central Government.
By extinguishing or reducing the liability of members for uncalled capital. A memorandum or memo is a document or other communication that helps the memory by recording events or observations on a topic, such as may be used in a business office.
The plural form is either memoranda or memorandums. Memorandum Of Alteration in the World Encyclopedia of Law: Notice. This definition of Memorandum Of Alteration is based on the The Cyclopedic Law Dictionary.
This entry needs to be proofread. Vocabularies (Semantic Web Information) Resource Description Topic Map. (1) Save as provided in section 61, a may, by a special resolution and after complying with the procedure specified in this section, the provisions of its.
(2) Any change in the name of a company shall be subject to the provisions of sub-sections (2) and (3) of section 4 and shall not have Continue reading Section Alteration of memorandum. →.
Best explanation about the procedure required for alteration of memorandum of association under Companies ordinance for law students. Apr 29, · Memorandum of association is the charter of the company and defines the scope of its activities. Memorandum of association defines the relation of the company with the rights of the members of the company interest and also establishes the relationship of.
Alteration of Memorandum of Association - Download as Word Doc .doc /.docx), PDF File .pdf), Text File .txt) or read online.Alteration memorandum