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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 purchase, take on lease, or otherwise acquire any coal mines, iron mines, and other mines, mining ground, and minerals, and any mining rights, grants, concessions and easements, and any lands or other property necessary or convenient for the advantageous possession and use of the mines or works for the time being owned or worked by the company, or any interest therein respectively, and to search for, get, bring to surface, make merchantable, and sell and dispose of coal, ironstone, and other ores, metals and minerals, and substances of the earth whatsoever.
2. To acquire, prospect for, open, explore, develop, work, improve, maintain and manage mines and mineral lands and deposits, and to dig for, raise, crush, wash, smelt, assay, analyse, reduce, amalgamate, refine, pipe, convey, and otherwise treat ores, metals and minerals, whether belonging to the company or not, and to render the same merchantable and to sell or otherwise dispose of the same or any part thereof or interest therein.
3. To construct works to carry on the business of a mining, smelting and refining company and for such purposes to construct, carry out, repair, maintain, improve, manage, work, control and superintend any roads, ways, shafts, tunnels, railways, bridges, coaling stations, reservoirs, watercourses, aqueducts, docks, wharves, furnaces, coke ovens, plant, engines, machinery, mills, factories, warehouses, ships, boats, dwelling houses, offices buildings and other works and conveniences which may seem appropriate, and conducive to any of the objects of the company, and to contribute to or otherwise aid or take part in any such operations, and to purchase, hire, or build and repair, and trade with, ships, boats, railway wagons or trucks or trolleys or any other rolling stock, or any other means of transport.
4. To carry on the business relating to the finding and working of minerals, the production and working of metals.
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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