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According to the rule 29 of Companies Rules, 2014, the Memorandum of Association (MOA) of a company contains object clauses that ascertain the objective and scope of activities of a company. After the incorporation of a company, there might be the need to alter the object clause. To perform this, there comes the need to make changes in the MOA of the company and section 13 of the Companies Act 13 of the Companies Act 2013.
A company can choose to modify its object clause by way of addition, deletion, modification, substitution, or in any other way, only if it wants:
Procedure for change in the object clause of Memorandum of Association (MOA):
Organize A Board Meeting: To change the object clause in Memorandum of Association of Company By giving Notice of at least 7 days.
Schedule the Board Meeting:
Filing and fees:
I) File FORM NO. MGT-14 (Filing of Resolutions and agreements to the Registrar under section 117) with the Registrar along with the requisite filing within 30 days of passing the special resolution, along with given documents:-
I) The Registrar shall then consequently register the alteration and release a certificate which will act as decisive evidence that all the requirements with respect to the alteration have been duly complied with by the company.
II) The alteration shall be comprehensive and effective only on the issue of certificate by the Registrar.
III) If the special resolution is not filed within 30 days from the date of passing of such Resolution, then additional fees will be levy as per Companies Act- 2013.
IV) Incorporate the alteration in every copy of the memorandum.
Note: As per Companies Act-2013 Ministry Prescribed new sets of Memorandum of Association as per sections of Companies Act, 2013. So it is advisable to adopt new sets of Memorandum of Association of company at the time of Alteration in Object Clause of Memorandum of Association.
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What is the object clause of a company?
As per the rule 29 of Companies Rules, 2014, the Memorandum of Association (MOA) of a company contains object clauses that establish the objective and scope of activities of a company.
How do I intimate Ministry of Corporate Affairs about change in Object Clause of MOA?
If a company wants to change its object clause, it can do so by filling necessary resolution and file eForm MGT-14.
Which documents are required to change the objects of the company?
Following information and documents are required to change of object of the Company:-
What are the attachments of Form MGT-14 for change of object of the company?
Following are the attachments of Form MGT-14: