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Every company's Memorandum of Association (MOA) carries an objects clause, and the main objects sit at its heart. This clause spells out the core business activities your company is formed to undertake - whether that is financial services, manufacturing, trading, or consultancy. The Registrar of Companies examines these objects when you apply for company registration, and banks, investors, and business partners often read them to understand exactly what your company is set up to do.
Getting the main objects right matters. Your company is expected to operate within the activities listed in its MOA, and taking up a completely new line of business later means formally altering the memorandum. The sample clauses below show how main objects are typically worded for this business type. Use them as a drafting starting point, and have a Company Secretary or legal professional review the final version before filing.
1. To set up laboratories, purchase and acquire land for establishment of Institute, equipment and instruments required for carrying out medical investigation and to educate and train medical students, nurses, midwives and hospital administrators and to grant such certificates or recognitions as the company may prescribe or deem fit from time to time and to grant stipends, scholarships or any other assistance monetary or otherwise to whomsoever to further the course medicine and / or medical research.
2. To carry in-house medical research by engaging in the research and development in all fields, systems of medical sciences and in diagnostics and medical treatments and to develop new technologies so as to afford medical relief in a better way. Further, to collect primary and secondary data and make statistical analysis and apply the findings for furthering medical research and maintain, generate and upkeep intellectual rights, properties and privileges in medical sciences, research, development and innovations and to patent the same and / or register and trade mark(s) and to make use of the same by sale / export / let on hire either for commercial or other purposes.
3. To provide, encourage, initiate or promote facilities for the discovering, improvement or development of new methods of diagnosis, understanding and prevention and treatments of diseases by adopting commercialized imported technology and by significant improvements in existing product / process / application and to initiate development of technology and to apply this technology in the medical field and also in areas of telemedicine etc, using computer applications to meet the medical standards and also benefit the public by these applications.
4. To carry on the research and developmental activities to develop new products and substitute for imported products and to develop and maintain testing house and laboratory for own use and for others and healthcare institutions and to promote research and development in these areas.
Sample main objects clause for drafting your company's Memorandum of Association (MOA). Have it reviewed by your professional before filing.
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