registered office clause requires to show the physical location of the registered office of the company. It is required to keep all the company registers in this office. The registered office should be established prior to commencing business activities. .
Objective Clause The objective clause requires to summarize the main objectives for establishing the company with reference to the requirements for shareholding and use of financial resources. It is required to state the ancillary objectives; that is, those objectives that are required to facilitate the achievement of the main objectives. The objectives should be free of any provisions or declarations that contravene laws or public good. continued...
commerce - - . . PM . Liability Clause The liability clause requires to state the extent to which shareholders of the company are liable to the debt obligations of the company in the event of the company dissolving.
There are companies limited by shares and limited by guarantee. . Capital Clause The capital clause requires to state the company’s authorized share capital, the different categories of shares and the nominal value (the minimum value per share) of the shares. It is also required to list the company’s assets under this clause.
. Association Clause The association clause confirms that shareholders bound by the MOA are willingly associating and forming a company. It is required seven members to sign an MOA for a public company and not less than two people for a MOA of a private company. The sighing must be done in the presence of witness who must also append his signature.
. Articles of Association The Articles of Association (AOA) is a document that contains the purpose of the company as well as the duties and responsibilities of its members. It is an important document which needs to be filed with the Registrar of Companies. These are the bylaws of a company that defines the mode and manner in which the company’s business is to be carried on.
In the Companies Act, Table A Prescribes model for the articles of the companies. Table A is a document containing rules