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Memorandum of Incorporation (MOI)
The new Companies Act that came into force on the 1st May 2011 requires all Limited Companies to convert their Memorandum and Articles to this new document within 2 years. Why is this important?
The new MOI states what the company can and can't do and how it does it. It can be written in a way that restricts the company or liberates it. Its conditions can cost the company money or allow it to save money.
The Business Guru is aware that each company is unique and the MOI should reflect this otherwise you get a document which legally binds the company up into red tape and as a result costs the company money.
The MOI can restrict the company in different ways
It can dictate that the company has an audit which it might not need
It can dictate that only one specific accountant or type can do your work which will prevent you from changing your accountant
What to do?
contact us to discuss your requirements and how we can help you meet your statutory duties without costing you a fortune and spending too long dealing with the red tape. Tell Friend
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