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Business & Compliance

CHANGES AND CORRECTIONS

MOA and AOA Agreement


Memorandum of Association:

Memorandum of Association (MOA) is a legal document prepared in the formation and registration process of a limited liability company to define its relationship with shareholders.The Memorandum of Association of a company must be changed whenever there are changes to the object, situation or capital or liability of a company.  Changes to Memorandum of Association of a company can be required while changing name of a company, changing registered office from state to state. 

Factors of MOA:

Lawful objects can be stated and included in the objects clause of the memorandum of association, whether the company engages in all those activities or not

The name of the company must be stated with the last word 'Limited' in case of limited companies and with the last two words 'Private Limited' in case of private limited company. The Companies Act, 2013 states that a company should not be registered with an undesirable name.

The Memorandum of Association must mention the State in which the registered office of the company will be located. Law of the company must be stated for determination of jurisdiction of Court, tax authorities and ROC.

The Memorandum of Association must state whether the company is limited by shares or by guarantee. Also, the Memorandum of Association must state that the liability of its members is limited. A company cannot increase the liability of its members without their written consent.

The Memorandum of Association of a company having to share capital is required to show the amount of share capital with which the company is going to be registered, and the division therefor into shares of fixed value.

Documents Required for MOA Agreement:- (All copies of documents should be self attested by the customer)

Name of parties involved

A brief description of the scope of work

Financial obligations of each party, if applicable

Dates agreement is in effect

Key contacts for each party involved

Process for MOA agreement:

The overall intent of the MOA

The Parties

The Period

Assignments/Responsibilities

Disclaimers

Financial Arrangements

Risk Sharing

Signatures