What is the Memorandum of Association
The Memorandum of Association is an important company document that regulates a company’s external activity. A Memorandum of Association must be drawn up on formation of a registered or incorporated company.
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Memorandum of Association explained
The Memorandum of Association, also known as the Memorandum, is a certificate that forms the company’s constitution. It is an important legal document that must be obtained during the registration and licensing stages of a company. its role is to govern the relationship between the company and the outside world.
The Memorandum of Association gives the company’s name, shareholders and the number of shares held by them, along with the registered address of the company. In addition to the above, the Memorandum of Association outlines the objectives of the company, the amount of authorized share capital, whether liability of its members is limited by shares or by guarantee, and what type of contracts the company is allowed to enter into.
Upon any changes to the company’s internal formation or objectives, the Memorandum must be changed accordingly.
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