ZIMSEC O Level Commerce Notes: Memorandum of Association
Memorandum of Association
- Is used in the formation of private and public limited companies.
- Is prepared by the company founders/their representatives.
- Is sent to the Registrar of companies for approval.
- the name of the company followed by the words “private limited” or abbreviation thereof for private limited companies and “plc” for public limited companies.
- The address of the company and its registered office address.
- The purpose or objects of the company.
- The names of the first company’s director(s).
- the amount of share capital to be issued to shareholders.
- The classes of shares to be issued.
- A statement whether a company is either “private” or “public”
- A statement that the liability of the shareholders is limited.
- An undertaking by the promoters to form a registred company and purchase a stipulated number of shares.
- is an application to register a company.
- Is used during the formation of a company.
- A company’s charter which governs the company’s relationship with the outside world.
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