To understand the procedure of “Change of Object” of a Company we need to understand the nature of the Memorandum of Association. A Memorandum of Association is a charter of the Company it is also called the constitution of the Company. It contains:
So, if we want to change the object clause of the company, then we have to also change the Memorandum of Association of the Company, and to carry on any business other than that of contained in Object Clause, is prohibited.
Important Provisions:
Procedure of change of object clause:
Convene board meeting discuss following matters.
- To get the Director's approval for change of Object Clause.
- Fix date, time, and place for holding Extra-ordinary General meeting (EGM) to get the consent of members by way of Special Resolution, for change of Object clause of Memorandum.
- To issue the notice of EGM along with an Explanatory Statement to be attached to the notice of the General Meeting.
- To approve the Director or Company Secretary to issue Notice of the Extra-ordinary General meeting (EGM).
- To Authorize the Directors of Company to make Application with ROC for application for change of Object clause and to prepare a new set of amended Memorandum of the Company.
- Prepare minutes of such a Board Meeting.
File necessary e-Forms along with attachments with Registrar of Companies
Form MGT-14 for filling special resolution with following attachments
- Altered Memorandum of Association
- Notice of General Meeting
- Copy of Special Resolution
Convene Extra-Ordinary General Meeting of the members of the Company at place & time mentioned in Notice to transact following businesses.
- Change the Object of the Company, subject to the approval of ROC.
- Alteration of the Name Clause of the Memorandum of Association of the Company.
Issue Notice of the Extra-ordinary General meeting (EOGM) to all Members, Directors, the Auditors and to all other persons entitled to such notice.
On approval of Form INC-24 ROC issues Certificate approving new object for the company.
Documents required for OPC Registration:
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