What is a MEMART (Memorandum and Articles of Association)?

What is a MEMART (Memorandum and Articles of Association)?

March 26, 2019

A memorandum and articles of association are legal documents that state the object of the company, shareholders of the company, the number of shares they subscribed to and the laid down rules in the running of the company which is signed by all subscribers and witnesses to the agreement and formation of the company.

CONTENTS OF A MEMORANDUM

  1. The name of the company
  2. The object of the company
  3. The type of company
  4. The number of shares
  5. The names of shareholders, number of shares subscribed to and signatures
  6. Signature and name of witness

CONTENTS OF ARTICLES OF ASSOCIATION

  1. Notice i.e notice of meetings and how it would be circulated among members and directors of the company
  2. The seal i.e the provision, use and custody of the company seal
  3. Voting
  4. Meetings
  5. Alteration of capital
  6. Commissions and brokerage
  7. Pre-emptive rights of shareholders of the company
  8. Restrictions on transfer of shares
  9. Class of shares
  10. Interpretation
  11. Names of subscribers
  12. Witness

 

TEAM618BEES

For further inquiries contact info@618bees.com 012803791

www.618bees.com

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer.

This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

 

 

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • What additional documents do I require to file my Annual Returns?
  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.

  • What are the penalties for not registering my products with the SON?
      1. Seizure of goods by the Inspectorate and Compliance Directorate
      2. Payment of a fine.
      3. Prosecution

     

  • What do I need for a trademark search in Nigeria?

    To do a trademark search you will need the name or/and logo (device) of the trademark to be searched and the Class of the trademark that accurately describes it.

  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.

  • What is share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.

  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.

Call Us Now on +234 901 719 0079 Whatsapp icon Chat on WhatsApp