Memorandum of Association (MOA) is a charter document of the company. It specifies activities that the company will undertake. The MOA contains details of a company’s name, its registered address, objectives, authorised capital, liability of the members, and the subscribers. All activities of the company must always be conducted within the operational scope defined in the memorandum.
Any changes to the clauses of the memorandum must be approved by the board of directors and the shareholders. To alter the memorandum, the company must:
1. Hold a board meeting seeking approval
2. Call an extraordinary general meeting seeking approval from shareholders