Question: What Is A Name Clause?

What does AOA contain?

Generally, the AoA includes a company’s legal name, address, purpose, equity capital, organization of the company, financial provisions, and provisions regarding the shareholder meetings..

Can a person have 2 domicile?

No, you cannot have more than one domicile certificate at a time. It can be made only in one state and obtaining more than one domicile certificate is an offence. … So, in your case you can get a domicile certificate for either of the states but not for both.

What is AOA of company?

Articles of association form a document that specifies the regulations for a company’s operations and defines the company’s purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.

What is MOA and AOA?

The first difference between MOA and AOA while the MOA (Memorandum of Association) describes the powers and objects of the company, the AOA (Article of Association) defines its rules. The MOA is subordinate to the Companies Act, and the AOA (Articles of Association) is subordinate to the memorandum.

What is the main purpose of memorandum of association?

The memorandum of association is the document that sets up the company and the articles of association set out how the company is run, governed and owned. The articles of association includes the responsibilities and powers of the directors and the means by which the members exert control over the board of directors.

What are the characteristics of company?

Some of the most important characteristics of a company are as follows:Voluntary Association: A company is a voluntary association of two or more persons. … Incorporation: … Artificial Person: … Separate Entity: … Perpetual Existence: … Common Seal: … Transferability of Shares: … Limited Liability:More items…

Does a contract carry over if a company changes its name?

Contract if a Company Changes its Name They even have a new sign on the building. … So, no, a name/entity type change doesn’t mean a contract is void.

What is situation clause?

The Memorandum of Association or MOA of a company defines the objectives, extent of authority, competency, liabilities and legal rights of the company. The second clause in Memorandum of association is a registered office clause or situation clause or domicile clause.

What are the six clauses of moa?

A memorandum of association contains a name clause, registered office clause, object (or objective clause), objects clause, liability clause, capital clause, and association clause.

How can a company alter its name clause?

Section 13 of the Companies Act, 2013 deal with change of name which says that the name of the company can be changed by a special resolution and with the approval of the Central Government. Approval of Central Government is not required if the change relates to the addition/deletion of the words “private” to the name.

What is domicile clause?

Domicile Clause The second clause of the MOA, the ‘domicile’ clause specifies the location of the company’s registered office. The domicile clause will not exactly contain the address of the registered office, but the state or union territory in which the registered office of the company is located.

What are the types of domicile?

KINDS OF DOMICILEDomicile by origin.Domicile by choice.Domicile by operation of law.

What does the capital clause describe?

Capital clause. The clause in the memorandum of association of a company dealing with its capital. It states the amount of the company’s nominal capital. and the number and amount of the shares it is permitted to have.

What is the importance of articles of association?

Articles of Association, the second important document of a company, contain rules, regulations and bye-laws for the internal administration of the company. The articles regulate the internal management of the company. Articles define the powers of the directors and other officers of the company.

What is AOA and its clauses?

The AoA contains the rules and regulations by which a company is regulated; it contains clauses related to amalgamation of the company, winding up of the company, nature of business, issue and allotment of shares, issue and allotment of debentures, it also clarifies the statute to be used in bonds distribution, rights …

What is Moa and its clauses?

A memorandum of association (MOA) contains a name clause, registered office or business location clause, objective or objects clause, liability clause, capital clause, as well as an association clause. … The purpose of an MOA is to explain a business’s relationship with all its stakeholders.

Is AOA compulsory?

MOA is a compulsory document which must be registered with the ROC at the time of incorporation of the company. On the other hand, AOA is not obligatory and in case of limited shares, a company can use its Table A in its place.

What is the difference between residence and domicile?

Residence is a place you live for a time. It could be a summer hideaway, a college dorm, or just a place you go to get away from the snowy winters up north. Domicile is the place you intend to make your permanent home, the place to which you intend to return if you are temporarily residing in another state.

How do you write an MOA?

The typical format of an MOA include:Authority.Purpose of the Agreement. Name of parties involved. Brief description of the scope of work. … Detailed Description of Roles and Responsibilities.Payment Schedule if Applicable.Duration of the Agreement.Modification of Termination.Signatures of Parties’ Principals.

What is CG approval?

Purpose of the eForm A company can seek approval from Central Government by filing application under Companies Act, 2013 in eForm CG-1. eForm Number as per Companies Act, 1956 Form 65 as per Companies Act, 1956.