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Change in MoA and AoA

Compliances for Alteration of MoA and AoA

 

A company which plans to alter its MoA(Memorandum of Association) and AoA(Articles of Association) has to follow the compliances and provisions mentioned under the companies Act, 2013. But The Alteration of MoA and AoA of a private limited company or any other type of company require various procedures to be follow. Let’s  a look at the procedure and compliances for alteration of MoA and AOA of a company. Follow the complete guide to change the MOA and AOA of a company with the steps mention below.

 

MOA and AOA are the most important documents for any company whether it is a Private Limited company, section 8 company, public limited company,and limited liability partnership, and any other type of company, the provisions for changing the MOA and AOA are mostly the same for all the company types.

 

 

        Alteration of MOA( Memorandum of Association)

 

The changes to the MOA( Memorandum of Association) is a very intricate process and it require taking aid from a professional for the amendment process of MOA in any company. Follow the process for alteration of MoA in a company given below.

 


 

         Compliances for Alteration of MoA in a company

 

Follow the below mention steps and compliances for changing the Memorandum of Association(MoA) in a company.

Step-1: So, the notice for the Board Meeting release  at least 7 days prior to the date of Board Meeting for change in MOA.

Step-2: Hold a Board Meeting for alteration of MoA and pass a resolution unanimously subject to the approval from the shareholders also.

Step-3: Select the date, time and venue for the shareholder meeting and a person  authorise to send the notices to the shareholders for the meeting.

Step-4: The notice to the shareholders send at least 21 days prior to the Board Meeting date.

Step-5: Hold the shareholder meeting and take approval from the majority of the shareholders to pass the resolution for changing the MOA of the company.

Step-6: Submit Form MGT-14, along with the copy of the pass resolution, updated copy of Memorandum of Association, and any other relevant documents within 30 days of passing the resolution for amendment of MOA of the company.

 


 

           List of Clauses that are covered under MOA

 

So, The list of Clauses that are cover under Memorandum of Association for its amendment are:

  • Change in Object Clause
  • Alteration of Share Capital
  • Relocation of Registered Office
  • Change in name of the Company
  • Change in name of the Company

 


 

                Alteration of AOA( Articles of Association)

 

All the important rules and regulations of the company are mention in the Articles of Association(AoA) of the company. It is an so important document for the company as it contains all the information of internal management of the company. But Any alteration in the AOA of the company needs prior approval from the board members and shareholders and passing the resolution for change in AOA of the company.

 


 

            Compliances for Alteration of AoA in a company

 

So, There are several compliances to be follow for Alteration of AoA in a company. To change the AOA of a company follow the steps given below:

Step-1: So the notice for the Board Meeting release at least 7 days prior to the date of Meeting for alteration in AOA.

Step-2: Hold a Board Meeting for alteration of AoA and pass a resolution unanimously which is subject to the approval from the shareholders also.

Step-3: Select the Date, Time and Venue for the shareholder meeting and a person authorise to send the notices to the shareholders for the meeting.

Step-4: The notice to the shareholders  and send at least 21 days prior to the actual Board Meeting date.

Step-5: Hold the shareholder meeting and take approval from the majority of the shareholders to pass the resolution for changing the AOA of the company.

Step-6: Submit Form MGT-14, along with the copy of the passed resolution, and updated copy of Articles of Association, and any other relevant documents within 30 days of passing the resolution for amendment of AOA of the company.

 


 

 

List of Clauses that are covered under AOA

 

The list of Clauses that are covered under Articles of Association(AOA) for its amendment are:

  • First Director of the company
  • Share Capital
  • Details of Subscribers
  • Dividend and reserves policy
  • Details of Key Managerial Positions

 


 

                                     Conclusion

In conclusion it so assert that changing the AOA and MOA of any company requires various legal processes and procedures to be followed. A proper process has to  followed for changing the AOA and MOA of a company but which includes conducting board meetings and shareholder meetings and take approval from majority of the stakeholders and then file necessary forms attaching the updated AOA and MOA. Hope you understand the compliances and process for changing the AOA and MOA of a company.

 

In case you need any assistance in alteration of MOA and AOA of a company, just contact our Team at Professional Utilities to make the process easier for you.

 


 

 

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