About Change in Object of a Company
The object clause is the third clause of the company memorandum of association stating the objects i.e. the business/purpose for which the Company is incorporated. A company may change its objects as enshrined in its memorandum of association in accordance with the provisions of Sections 13 of the Companies Act, 2013.
The change in objects of the company shall be effective only on registration of special resolution in prescribed form within such time.
However, it restrict change in object of a company, which has raised money from public through prospectus and still has any unutilized amount out of the money so raised unless a special resolution is passed by the company and the prescribed details of such resolution shall be published in one vernacular language and one English language newspaper in circulation at the place of the registered office of the company as well as on the website of the company indicating the justification for such change in object.
- DSC of the authorized person
- New object of the company