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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 carry on business as importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers. or otherwise deal in textile, textile goods, cotton, silk, wool. linen, hemp, jute and yarns of all kinds and fabrics made of such yarns, and all kinds of synthetic or partially synthetic fabrics, waterproof fabrics and articles made from them, natural fabrics, fashion materials, imitation fur, buttons, belts and zip and other fasteners, linings of all kinds, canvas, umbrellas, marquees flags and all kinds of fabrics or articles in which fabrics of any kind Is used.
2. To carry on the business of trading, designing, inventing, importing, exporting, distributing of otherwise dealing in all kinds of readymade garments, fabrication of all type of garments and accessories, fabrics, hosiery goods hosiery cloth, textile goods, woolen garments, costumes, shawls, tweeds, linens, flannels and all other articles of textile, hosiery, yarn, woolen and worsted materials and all articles similar to the foregoing or any of the them or connected therewith.
3. To carry on the business of manufacturers, importers, exporters, wholesalers, retailers & sellers of all types of fashion accessories, equipments for interior designing and other lifestyle products.
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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