Table of Contents
How can a company alter its name clause?
Changing company names amounts to a significant alteration since Memorandum of Association and Articles of Association need to be altered. As per Section 13 of the Companies Act 2013, a company may change its name by passing a special resolution in general meeting and receiving approval from the Central Government.
How can the various clauses of Memorandum of Association of a company be altered?
1. Alteration of Name Clause in Memorandum of Association. A company may by passing a special resolution alter is name with the approval of the Central Government. If the alteration involves change of the name to private limited or public limited, permission of Central Government is not required.
Can we alter AOA?
Company can alter its Article by way of addition, deletion, modification, substitution, or in any other way, only if it wants. To alter the Article of association of Company By giving Notice of at least 7 days. At the Board meeting, the given resolutions in respect of alteration in AOA must be passed.
How the registered office clause can be amended?
Alteration of Registered Office Clause Such change in the situation can be: (a) from one place to another in the same city or town (b) from one town to another in the same state and (c) from one state to another. The Supreme Court in Mackinnon v.
Can a company change its object clause?
A Company in order to expand after incorporation of a Company may change the object clause. A Company can alter its object clause either by way of addition, deletion, substitution, modification or in any other way, only if it wants.
What happens if a company changes its name?
A name change is neither intends to reform or re-incorporate the company or LLP into a different entity or dissolve it. A certificate declaring the change of name does in no way affect the existence of the entity. Hence, all assets, liabilities and obligations of the company or LLP would continue after the name change.
What is liability clause in Memorandum of Association?
Liability Clause: It states the liability of the members of the company. In case of an unlimited company, the liability of the members is unlimited whereas in case of a company limited by shares, the liability of the members is restricted by the amount unpaid on their share.
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.
Who can alter the article of a company?
The Articles of Association may be changed by the shareholders passing a special resolution in a general meeting or by written resolution. A copy of the resolution and the new articles of association must be sent to Companies House within 15 days.
Can we change MOA of company?
The Changes to the Memorandum of Association can be effected through a special resolution at the shareholders’ meeting. The process of changing the MOA of the company is a complex and extensive procedure, it is necessary to take professional care must be taken during the procedure.
Can liability clause be altered?
Alteration of Liability Clause The liability clause can be modified by passing a special resolution. A copy of the resolution should be filed with the Registrar within a period of 30 days.
How can the registered office clause and objects clause of a memorandum be altered?
A company may change its objects as enshrined in its MOA in accordance with the provisions of Section 13 of the Act. Accordingly, any alteration of MOA with respect to the objects of the company is permitted through Special Resolution.