Memorandum of Association

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A company limited by shares is one that the members of the company are responsible for its debts only to the extent of the amount of the unpaid capital (in form of shares) they invested in the company. This type of company is further divided into two namely- Private limited liability company and public limited liability company. A company limited by guarantee is a company usually used for non-profit, the members are only responsible for the debts of the company to the extent of the amount they have undertaken to contribute. An unlimited liability company is a Company that has no restriction on the responsibility of the members of the Company. Consequently, members of an unlimited liability company will be held responsible for all the debts of the Company until the debts are fully paid and there is no extent of liability.

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The Federal Republic of Nigeria



Companies and Allied Matters Act, 2020




Company Limited by Guarantee




Memorandum



of



Association


of

________

The Federal Republic of Nigeria

The Companies and Allied Matters Act, 2004

Company Limited by Guarantee

Memorandum of Association (As amended)

of

________


Name of the Company

(1) The name of the Company is ________.


Registered office

(2) 552 5228822525 222882 22 252 8222522 85588 82 8825522 82 8822585.


Objects

(3) The objects for which the Company is established are:

________

(4) The income and property of the Company shall be solely applied towards the promotion of the objects of the Company as set forth in this Memorandum of Association, and no portion thereof shall be paid or transferred directly, by way of dividend bonus or otherwise howsoever by way of profit, to the members of the Company except as permitted under the Companies and Allied Matters Act.


Type of Company

(5) The Company is a Private Company.


Liability of Members

(6) The liability of the members is Limited by Guarantee.


Limited Liability

(7) Every member of the Company undertakes to contribute to the assets of the Company in the event of the same being wound up while he is a member, or within one year after he ceases to be a member:

a. For payments of the debts and liabilities of the Company contracted before he ceases to be a member;

b. For costs, charges and expenses of winding up; and

c. For the adjustments of the rights of the contributories among themselves.

Such amount as may be required from every member of the Company of which the total shall be the sum of ₦________ (________).


Winding up

(8) If upon the winding up or dissolution of the Company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid or distributed among the members of this Company, but shall be given to another institution having similar objects which is regarded as non-profit under the Nigerian law for the promotion of the objects of that institution.

We, 252 8282558 2258228, 85282 25228, 555528828 525 528858228228 552 8588858825 552 52885258 22 82822 225225 8222 5 8222522 82 255855282 22 2588 2222552552 22 Association.


Name of Subscriber: ________

Address: ________

Sum Guaranteed: ₦________ (________)

Signature:


Dated on ________


Witnesses to the above signatures:


Name: ________

Address: ________

Occupation: ________

Signature:

Preview your document

The Federal Republic of Nigeria



Companies and Allied Matters Act, 2020




Company Limited by Guarantee




Memorandum



of



Association


of

________

The Federal Republic of Nigeria

The Companies and Allied Matters Act, 2004

Company Limited by Guarantee

Memorandum of Association (As amended)

of

________


Name of the Company

(1) The name of the Company is ________.


Registered office

(2) 552 5228822525 222882 22 252 8222522 85588 82 8825522 82 8822585.


Objects

(3) The objects for which the Company is established are:

________

(4) The income and property of the Company shall be solely applied towards the promotion of the objects of the Company as set forth in this Memorandum of Association, and no portion thereof shall be paid or transferred directly, by way of dividend bonus or otherwise howsoever by way of profit, to the members of the Company except as permitted under the Companies and Allied Matters Act.


Type of Company

(5) The Company is a Private Company.


Liability of Members

(6) The liability of the members is Limited by Guarantee.


Limited Liability

(7) Every member of the Company undertakes to contribute to the assets of the Company in the event of the same being wound up while he is a member, or within one year after he ceases to be a member:

a. For payments of the debts and liabilities of the Company contracted before he ceases to be a member;

b. For costs, charges and expenses of winding up; and

c. For the adjustments of the rights of the contributories among themselves.

Such amount as may be required from every member of the Company of which the total shall be the sum of ₦________ (________).


Winding up

(8) If upon the winding up or dissolution of the Company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid or distributed among the members of this Company, but shall be given to another institution having similar objects which is regarded as non-profit under the Nigerian law for the promotion of the objects of that institution.

We, 252 8282558 2258228, 85282 25228, 555528828 525 528858228228 552 8588858825 552 52885258 22 82822 225225 8222 5 8222522 82 255855282 22 2588 2222552552 22 Association.


Name of Subscriber: ________

Address: ________

Sum Guaranteed: ₦________ (________)

Signature:


Dated on ________


Witnesses to the above signatures:


Name: ________

Address: ________

Occupation: ________

Signature:

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