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Memorandum Of Association Of Any Company Template for Nigeria

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Key Requirements PROMPT example:

Memorandum Of Association Of Any Company

"I need a Memorandum of Association of Any Company for a new Nigerian private limited technology company with an authorized share capital of 10 million Naira, to be incorporated by March 2025, with provisions for software development and IT consulting services as main objects."

Document background
The Memorandum of Association of Any Company is a mandatory constitutional document required under Nigerian law for incorporating a new company. It must be filed with the Corporate Affairs Commission (CAC) as part of the company registration process, in compliance with the Companies and Allied Matters Act (CAMA) 2020. This document outlines the company's fundamental characteristics, including its name, registered office location, objects clause detailing permitted business activities, statement of limited liability, and authorized share capital structure. The memorandum serves as the company's charter that defines its scope of operations and relationships with the outside world, making it essential for stakeholders, investors, and regulatory compliance. It forms part of the company's constitution along with the Articles of Association and can only be amended through special procedures prescribed by law.
Suggested Sections

1. Company Name Clause: States the approved name of the company as registered with the Corporate Affairs Commission

2. Registered Office Clause: Specifies that the registered office of the company will be situated in Nigeria

3. Objects Clause: Details the primary and ancillary business objectives of the company

4. Liability Clause: States whether the liability of members is limited by shares or by guarantee

5. Capital Clause: Specifies the authorized share capital, types of shares, and their nominal value

6. Subscriber's Declaration: Contains the names, addresses, and signatures of subscribers, with details of their share subscription

Optional Sections

1. Restricted Objects Clause: Required for specialized companies like banks or insurance firms, specifying restrictions on business activities

2. Foreign Ownership Provisions: Required when the company has foreign shareholders, specifying compliance with Nigerian investment laws

3. Share Transfer Restrictions: For private companies, detailing restrictions on share transfers

4. Special Rights Provisions: When different classes of shares are issued with different rights attached

Suggested Schedules

1. Share Capital Structure: Detailed breakdown of share classes, rights, and initial allocation

2. Subscriber's Information: Detailed information about initial subscribers including occupation, nationality, and number of shares taken

3. Form CAC 1.1: Standard CAC form for company registration to be attached as part of the submission package

4. Objects Schedule: Detailed list of all business activities and ancillary powers of the company

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



















Clauses


















Relevant Industries

Financial Services

Manufacturing

Technology

Retail

Healthcare

Energy

Real Estate

Transportation

Agriculture

Education

Professional Services

Construction

Mining

Telecommunications

Entertainment

Hospitality

Relevant Teams

Legal

Compliance

Corporate Secretarial

Board of Directors

Executive Management

Corporate Governance

Risk Management

Regulatory Affairs

Corporate Affairs

Investment Relations

Relevant Roles

Chief Executive Officer

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Board Director

Chief Financial Officer

Managing Director

Business Development Manager

Investment Manager

Corporate Governance Officer

Regulatory Affairs Manager

Risk Manager

Shareholders

Company Registrar

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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