Memorandum of association Content The companies act 2013 Act
specifies the mandatory content for the memorandum of association which is similar to the existing provisions of the 1956 Act and refers inter-alia to the following: •
Name of the company with last word as limited or private limited as the case may be •
State in which registered office of the company will be situated •
Liability of the members of the company However, as against the existing requirement of the 1956 Act, the 2013 Act does not require the objects clause in the memorandum to be classified as the following:
(i) The main object of the company
(ii) Objects incidental or ancillary to the attainment of the main object
(iii) Other objects of the company [section 4(1) of 2013 Act] The basic purpose in the 1956 Act for such a classification as set out in section 149 of the 1956 Act, is to restrict a company from commencing any business to pursue ‘other objects of the company’ not incidental or ancillary to the main objects except on satisfaction of certain requirements as prescribed in the 1956 Act like passing a special resolution, filing of declaration with the ROC to the effect of resolution. Reservation of name: The 2013 Act incorporates the procedural aspects for applying for the availability of a name for a new company or an existing company in sections 4(4) and 4(5) of 2013 Act.