Any company that is registered must have a MOA of Company as its foundation. It is thought that the MOA serves as the company's charter and establishes the range of rights and obligations under which the company may function.

In the new online form SPICe 33 for MOA, only two of the original object clause's five provisions remain because of the Companies Act of 2013, such as

Main objects

Ancillary objects.

A business that has such unspent capital that was raised through the issuance of a prospectus. Such Companies shall adopt a resolution prior to changing the object clause. Both English and regional newspapers must display or publish this resolution.

An online SPICe form for the company's MOA is New E-form 33. For the certification of change, the company need not submit this online form once again along with form MGT-14. It will be sufficient to own a physical copy of MOA in addition to MGT 14.

Object clause is the clause in the MOA of the Company which defines the main business activity of the company. It defines the main objects that the company is going to pursue after incorporation. The object clause also enlists the objects that are necessary/incidental for furtherance of the main objects i.e the objects which help in conduct of the Main Objects of the Company or are necessary for the conduct of the main objects.

Filling of Form MGT-14 within 30 days of passing special resolution is the appropriate manner to communicate the request for change in object clause of a company.

The main difference is that the main object defines main business activities of the company while ancillary objects contains incidental business activity which is related to main business activity. These are always being mentioned in memorandum of company.

If a Company having main object as manufacturing and trading of motor parts wants to start altogether a new business activity of electronic goods, it can do so by changing its main objects clause as per the provisions of the Companies Act, 2013. The compliance required on part of the Company would be to call a Board meeting, Extraordinary General Meeting and then filing Form MGT-14 and altered copies of MOA.

The reasons for which a company alters its object clause are as follows. The given list may or may not be the same for all companies:

The company aspires to carry on its business on a big scale by enhancing the scope of its activities.

For the purpose of obtaining the goals that have been already set by new or improved methods.

To carry on the additional business that can easily be combined with the existing business of the company.

If the company is getting merged with another company, it would need to expand its existing objective.

The following clauses are included in Memorandum of Association:

Name Clause

Registered Address Clause

Liability Clause

Object Clause

Capital Clause