New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Which one of the following is not the content of the

    Memorandum of Association?
    A Board of directors Clause Correct Answer Incorrect Answer
    B Name Clause Correct Answer Incorrect Answer
    C Registered Office Clause Correct Answer Incorrect Answer
    D Objects Clause Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    As per Schedule I of the Company act 2013 Memorandum of association of company limited by shares has six clauses, which are described below:- 1) Name Clause: – Under this clause name of company is stated, as approved by MCA. 2) Registered Office Clause: – The memorandum must mention the state in which registered office of the company is situated. Complete address of the company need not required to mention here. 3) The Object Clause: – This is the most important clause. Company is free to choose any object which is not illegal. This clause is divided in two parts that is a) Main Object and b)The objects which are necessary for furtherance of the object specified in clause 3(a) 4) Liability Clause: – Liability clause states that the liability of the member is limited to the extent of amount unpaid on shares. 5) Capital clause: – Limited company having share capital must state the amount of its share capital and division thereof into shares of fixed denominations in its capital clause. Therefore, Board of director clause is not present in the MOA.

    Practice Next

    Relevant for Exams: