Frequently Asked Questions

\What are the key elements that an Object Clause should contain?

The Object Clause, a crucial part of the Memorandum of Association (MOA), outlines the purpose for which the company is being established. It is legally binding and restricts the company from engaging in any business activities not specified within it. The key elements that an Object Clause should contain include: 1. Main Objects: This is a list of the primary business activities the company will engage in once it's incorporated. It provides a clear direction for the company's operations and ensures that the company's activities align with its stated purpose. 2. Incidental Objects: These are secondary activities that are necessary to achieve the main objectives. They provide flexibility for the company to engage in related activities that support the achievement of its main objectives. 3. Other Objects: These are activities not included in the main or incidental objects. They provide further flexibility for the company to engage in other business activities as long as they are not illegal or against public interest. 4. Legal Compliance: The Object Clause should not contain anything illegal, against the public interest, or against the country's general rule of law. This ensures that the company operates within the legal framework and upholds ethical business practices.