MOA refers to Memorandum of Association of the company which means the constitution of the company permitting the business activities, state of incorporation, the liability of members, company’s type and company’s capital. The changes of Memorandum of the company is needed during the changes of the company’s name or changes in registered address from state to state, changes in object clause, capital clause or changes in authorized capital. It is affected by proceeding the required resolution in the meeting of the company’s shareholders.
The clause in MOA:
– Name Clause: Name clause contains the company’s name which must contain Privately limited in case of Private limited company and limited in case of a public limited company as the last word.
– Object Clause: Object clause defines the business activities of the company. The company is limited for the activities as mentioned in the object clause.
– State Clause: State clause says that MOA must include the state as per the company’s registered address.
– Liability Clause: The MOA must mention the company’s limitation of share.
– Capital Clause: The MOA of the company must show the amount of share capital as the company goes for registered and division for the shares into fixed value
MOA Amendment Package:
– Resolution of the board for MOA changes
– Special resolution as per the requirement of changes in MOA.
– If the name or registered address changes, new certificate of registration
– Updated copy of MOA & AOA
Steps to follow for MOA Amendment:
– Changing the name
– Changing the member’s liability
– Increasing the authorised share capital
– Changing the registered office of the company
– Change the main object of the company.
Process of MOA Amendment:
– Board of directors meeting
– Call the general meeting of the members
– Important resolution should be passed in general meeting
– Important forms with ROC including MGT-14, SH-7, INC-22 or INC-23
– MOA amendment certificate of the company