Can the subscripttion clause of the MOA be altered . if No, Why ?
The Act does not prohibit from altering the subscripttion clause. So can we alter ?
1 Replies
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 09 February 2010
Dear Kavin,
In Memorandum of Association there are only 5 Clauses viz.
1. Name Clause
2. Situation Clause
3. Object Clause
4. Liability Clause and
5.Capital Clause
Thenafter, there is a List of Subscribers to Memorandum. The subscribers to the Memorandum should be the same as the promoters / directors stated in form 1A, in case of any change in the subscribers. revise form 1A. and to remove a subscriber, obtain a No Objection Letter from such subscriber.
There is not any subscripttion clause. If you taking about Capital Clause then ofcourse it can be altered by way of Ordinary Resolution (except capital reduction).
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