To change the objects or aims and objectives of your business, you need to amend the Memorandum of Association. The MoA contains the object clause. This is not at all difficult. There’s a well-defined procedure for the same. For example, one mistake most companies make is to include several areas in the main objects. This will not be approved. For example, if you are in the IT business, you can cover all software services in the main objects, but other services, such as hardware, trading of related items must be included in ancillary objects.
Changes to the Memorandum of Association of a company would require the passing of a special resolution and shareholders consent. Other Changes to Memorandum can include changing the name of a company, changing registered office from state to state, alteration of objects clause, alteration of a capital clause or an increase of authorized capital.
