Memorandum Of Association
Memorandum of Association, in Britain the charter of incorporation of a limited company formed under the Companies Acts. It sets out: (1)the name of the company, (2) whether the registered office is to be in England or Scotland, the objects of the company, (4) that the liability of the members is limited, the amount of share capital with which the company proposes to be registered and its division into shares of a fixed amount.
There must be seven subscribers to the Memorandum of Association (two in a private company). Each subscriber must sign the memorandum and must write opposite his name the number of shares (at least one) he agrees to take. The memorandum must be stamped as a deed and has to be filed with the Registrar of Companies.