Why might a company need a Change of Objects, and how is it done?
A Change of Objects is important when a company wants to expand or shift its business focus. This process involves updating the Objects clause in the company’s Memorandum of Association (MoA). To do this, the company must pass a special resolution in a board meeting, file the necessary form (MGT-14) with the Registrar of Companies, and ensure stakeholders are on board. Following these steps carefully helps the company stay compliant and ensures smooth transitions in its business activities. Also Read- https://www.companiesnext.com/change-of-objects
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Jone Daily commented
A company may need a Change of Objects when it wants to broaden or alter its business activities. This is done by amending the Objects clause in the Memorandum of Association (MoA). The process requires passing a special resolution in a board meeting, filing Form MGT-14 with the Registrar of Companies, and ensuring stakeholder approval. This ensures compliance and facilitates smooth business transitions.
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