His liability for the unexpired period of the present term can be made unlimited only if he gives his consent to his liability becoming unlimited. The company would be required to annex the resolution to every copy of the article issued after the passing of the resolution.
Procedure for alteration of Conditions in Memorandum of Alteration memorandum 1. For this purpose application in form no. A Company can alter its memorandum by a special resolution, and after complying requirement of Section The Registrar of the Alteration memorandum, where registered office is being shifted shall issue a fresh certificate of Incorporation.
Alteration of the Situation Clause of MoA The procedure for altering the situation clause can be studied under the following heads: If the alteration involves change of the name to private limited or public limited, permission of Central Government is not required.
Objections, if any, received by the applicant company shall be forwarded to the Central Government on or before the date of hearing.
The Central Government will confirm the alteration if it is made for any one of the following purposes: It may sub-divide its shares into shares of smaller amount.
Commission is empowered to dispense with the notice on sufficient reasons. The Central Government shall dispose application within a period of 60 days [section 13 5 ].
Limits with in which a company can alter its object clause: Alteration of the Capital Clause of MoA The capital clause of a company can be altered for any one of the following purposes: Embossed printing reduces risk of alteration. Alteration of Memorandum by change of name. The company shall then file with the Registrar a certified copy of the confirmation by the Regional Director, within 2 months from the date of confirmation, together with a printed copy of the Memorandum of Association as altered.
OR b To attain its main purpose by new improved means. However, before imposing penalty, an opportunity of hearing shall be given to the Company and its officers. An application for obtaining approval of the Regional Director is required to be made in Form no. There is no special provision for alteration of articles to convert a private company into a public company or a public company into a private company.
No change can be made in this clause so as to make the liability of members unlimited.(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.
→. Apr 29, · INTRODUCTION. 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 the company with the members.
Section 4 of the Companies Act, deals with. alteration of memorandum of association One of the first steps in the formation of a company is to prepare a document called the memorandum of association (hereinafter referred to as MoA).
The MoA of the company contains the fundamental conditions upon which alone the company has been incorporated.
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. 1. Alteration of the Name Clause in MoA The procedure to be followed in regard to the change of the name under different circumstances is as follows.
1. General Change of the Name The name of the company can be altered at. 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. Alteration in the Memorandum of Association can be carried out only by a special resolution at the Shareholders meeting.
This is a complicated and lengthy procedure. So Memorandum must be very carefully prepared at the beginning itself. Provisions relating to alteration of Memorandum The following are the provisions related to alteration in Name Clause, Objects Clause, Liability Clause.Download