Why might a company need a Change of Objects, and how is it done?

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A Change of Objects is important when a company wants to expand or shift its business focus. This process involves updating the Objects clause in the company’s Memorandum of Association (MoA). To do this, the company must pass a special resolution in a board meeting, file the necessary form (MGT-14) with the Registrar of Companies, and ensure stakeholders are on board. Following these steps carefully helps the company stay compliant and ensures smooth transitions in its business activities.

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Thanks for the clear breakdown! Updating the Objects clause seems essential for a company’s flexibility and growth.