Question

Write short note on the following :
Features of Memorandum of Association.

Answer 1

The Memorandum of Association includes the objects and the powers of the Company, the limited liability of members, and the share capital. The Memorandum of Association must also include the following:-

1. The name of the Company

2. The registered address of the Company which must be in Cyprus

3. The share capital

4. The names, addresses, and descriptions of the Shareholders together with the number of shares held by each one of them.

When it is necessary for the shareholder to remain anonymous, then another person may be registered as a shareholder provided that he/she gives to the beneficial owner a declaration of trust which must be accompanied by a blank document for a transfer of shares.