Wednesday, 1 August 2018

Company Registration in Tirupur

Company Registration in Tirupur

Company Registration in Tirupur


Objects Clause in English Companies Act, 2006

Under English Companies Act, 2006 a provision as to objects is required to be made in the articles of association. Section 31(1) of English Companies Act, 2006 provides that unless the company's articles specifically restrict the objects of the company, its objects are unrestricted.

Effect of amendment on statement of objects

The effect of the Clauses (c) and (d) of section  13(1) of the 1956 Act as amended by the Act 31 of the 1965 in this: In the case of an 'existing company', this is, existing prior to the Amendment Act, if any new business not germane to the business which it is already carrying on, is to be started, the provisions of section 149(2-A) clause (a) read with sub-section (2-B) of the 1956 Act should be complied with, and in the case of a company formed after the Amendment Act, if any business coming under the 'other objects' clause(d) is to be started, the provisions of said section 149(2-A) clause (b) read with sub-section(2-B) of that section should be complied with.

Indication of main objects

There are divergent practices in the offices of the ROCs as to the number of clauses/objects that can be allowed under "Main Objects" to be pursued by the company on its incorporation vide section 13(1)(d)(1) of the companies Act. ROCs are advised to follow the general principle that in case of object oriented names like Hindustan Sugar Limited, the main objects should constitute only of that object (like sugar in case of Hindustan Sugar Ltd), while in case of non-object oriented names (like Tata sons limited) there should be no restriction as to the number of main objects. similar should be the approach in case of companies having names with general expressions like "Industries/Enterprises", etc., without prefixing the nature of industry or enterprise. In either case, it may be ensured that objects specified in the memorandum of association are specified against column No.5 of Form 1A.

For Company Registration in Tirupur -> Click here

No comments:

Post a Comment