The Memorandum of Association of a company is its charter, prescribing the company's name, registered office, objects and capital also defining limits and is power. It sets forth the fundamental conditions upon which alone the company is allowed to be incorporated. Conditions which are also introduced alike for the benefit of creditors and the outside public as well as for shareholders. The Memorandum may be altered but only to the extent and in the manner laid down by the Act apart from the statutory powers of alteration, it is non-alterable.
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