What is the Memorandum of Association (MOA)?
The Memorandum of Association (MOA) is an important legal document. It defines the company's structure, goals, powers, and scope of its operations.
In Nepali, the memorandum of association or moa is called "प्रबन्धपत्र" (prabandhapatra).
This document is important for registering a company. It contains the company's name, registered address, objectives, powers, and operational scope.
The MOA typically includes the following information:
- Name Clause: Specifies the company's name.
- Registered Office Clause: States the official address for legal purposes, which may differ from the operational office.
- Object Clause: Describes the company's main objectives and allowed activities.
- Liability Clause: Indicates members' liability, specifying the extent in a company limited by shares or the guarantee amount in case of winding up.
- Capital Clause: Specifies authorized share capital and its division into shares.
Sample Format of MOA in Nepali language
| Memorandum of Association | Sample Templates |
|---|---|
| Memorandum of Association for Private Company | Download PDF |
| Memorandum of Association for Public Company | Download PDF |
How to write a Memorandum of Association (MOA)
To write a Memorandum of Association (MOA) in Nepali, follow these steps:
- Download the MOA sample format that suits your company type.
- Look for the placeholders in the template. These are sections specifically designated for certain details.
- Replace these placeholders with your company's information, such as its name, registered office address, objectives, and any other pertinent details.
9 Important Elements to Include When Drafting a Memorandum of Association (MOA)
Name of the Company
The name of the company should be clearly stated at the top of the document.
Registered Office
The registered office address of the company must be mentioned in the MOA.
Objectives of the Company
The MOA should clearly outline the main objectives of the company. It should describe the nature of the business the company will undertake, such as manufacturing, trading, or providing services.
Liability of Members
The MOA should define the liability of the company's members, whether it is limited or unlimited.
Share Capital
The MOA should state the amount of share capital and the number of shares issued by the company.
Association Clause
This clause should state that the subscribers to the memorandum wish to form a company and agree to become members of the company and abide by the provisions of the MOA.
Subscription Clause
This clause should state the names, addresses, and occupations of the subscribers to the memorandum. It should also state the number of shares subscribed by each subscriber.
Witness Clause
The MOA should be signed by at least two witnesses who should attest to the signatures of the subscribers.
Date and Place
The MOA should be dated and signed at the place where it is executed.