Memorandum of Association is the supreme basic legal document for a company due to the following reasons: It is the basic of incorporation and a company cannot be registered without a Memorandum of Association. It contains the fundamental conditions upon which alone the company can be incorporated.
The Memorandum and the Articles of Association must be drawn by a local lawyer and is divided into two parts. The Memorandum of Association, which includes the objects and the powers of the Company, the limited liability of members and the share capital.
