The memorandum of Association is a document which contains the fundamental rules regarding the constitution and activities of a company .
Purpose of memorandum:
01. To provides structure of the company .
02.To provides objectives of the company.
03. To define the power of the company & its extended limit.
04. To define the power of the director as well as shareholders.
Contents of the memorandum:
01. Contents of memorandum of the company limited by share
In case of a company limited by share the memorandum shall state,
01. Name of the company
02. Place of its registered company
03. Objective of the company.
04. The liability of the members is limited either.
05. Amount of share capital
06. Subscription clause
07. Objective clause