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As your business evolves, its goals may also change. To make these changes official, you must update the Memorandum of Association (MoA) and complete the required formalities.
Sperso Filings simplifies this process, ensuring a smooth transition for your company’s new direction.
The objectives in the MoA define the scope of a company's operations. Changing them becomes essential in cases like:
Expanding into new products, services, or sectors requires updating objectives to match the company’s growth.
A takeover usually shifts the company’s vision and activities, needing objective changes to reflect the new direction.
Over time, some business activities may become outdated or unnecessary, requiring removal from the objectives.
If government policies prohibit certain activities, companies must amend their objectives to remain compliant and avoid legal risks.
The MoA defines two key company objectives:
To change these, the following steps are followed:
The board meets to pass a resolution approving the change in objectives. A director or company secretary is authorised to handle filings with the RoC. An EGM date is also fixed.
At the EGM, members pass a special resolution after receiving prior notice containing mandatory details.
The company files Form MGT-14 with the RoC along with the necessary documents.
If the industry code changes, the RoC issues a fresh certificate of incorporation.
Post-approval, the updated object clause must be incorporated into all MoA copies.
The MoA defines a company’s main goals, powers, and scope of operations. It outlines what the business can and cannot do.
The AoA contains the internal rules and procedures for managing the company’s affairs, including roles, rights, and responsibilities of directors and members.
Changes are effective after the Registrar of Companies (RoC) approves the application and issues the updated certificate of incorporation.
No, altering business objectives doesn’t require changing the company name unless the name no longer reflects the new objectives.
Yes, a company can have multiple main objectives if they align with the company's business plan and are properly stated in the MoA.
Yes, the entire process of changing business objectives, including filing and approvals, can be done online via the MCA portal.
A business objective defines the purpose and scope of activities the company intends to carry out as part of its operations.