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The Main Object Clause of the Memorandum of Association defines the purpose of the Company. Hence drafting of this clause is very crucial and should be done with precision and expertise. The Company cannot carry on any activity which is not a part of its object clause.
How to write an object of a memorandum?
The object clause must contain the companys important goals as well as other goals not listed above. This clause must specify the following: The companys main objectives are to be pursued by the company upon its incorporation; Auxiliary or ancillary purposes for achieving the main objectives; and.
What are the objects of a memorandum in Nigeria?
What are the objects of a memorandum? The object clause in a Memorandum of association is considered to be representative of the purpose of a company and it is expected that the company will fulfill/attempt to fulfill the objects it has laid out in its MOA.
What is memorandum and Articles of Association of a company in Nigeria?
The Memorandum and Articles of Association are indispensable documents for company registration and governance in Nigeria. A thorough understanding of their components, significance, and legal requirements is crucial for entrepreneurs and business owners.
What are the 5 clauses of MoA?
The Memorandum of Association (MoA) includes several critical clauses, such as the Name Clause, Registered Office Clause, Object Clause, Liability Clause, Capital Clause and Subscription Clause.
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Objects of the Association means the purposes for which the Association was established as may be registered in ance with the Act from time to time.
What are the objects of Memorandum of Association?
To protect the interests of shareholders: The MoA outlines the rights and obligations of the shareholders, which helps protect their interests. It also helps prevent any unauthorized activities or decisions that could adversely affect the shareholders.
What are the objectives of the Memorandum of Association?
It outlines the objectives, activities, and limitations of the company and helps establish it as a separate legal entity. The MoA also protects the interests of the shareholders, helps in decision-making, and provides guidance to the management and directors.
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Asset Management Corporation of Nigeria Act - EliScholar
Jul 19, 2010 Establishment of the Corporation. 2. Authorised capital. 3. Head Office of the Corporation. 4. Objects of the Corporation.
In general, examples of correct usage are shown in italics, and examples of incorrect usage are shown in quotation marks. Entries that consist of a word or
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