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What is the Memorandum of association?

For new companies (those formed under the Companies Act 2006), the memorandum of association is essentially the document under which the subscribers agree to form the new company.

Older companies (those formed under the Companies Act 1985 or earlier legislation) may still have a memorandum of association containing the company’s objects – a series of statements which determine the boundaries of how the company may act.  Since 1 October 2009, these objects now form part of the company’s articles (unless the articles have been specifically amended to make the objects unrestricted).

A new company need not restrict itself in such way, unless it chooses to do so.

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