Results 1 to 4 of 4

Thread: Memorandum of Incorporation (New Companies Act (Act 71 of 2008)

  1. #1
    New Member
    Join Date
    Feb 2012
    Location
    Strand
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Memorandum of Incorporation (New Companies Act (Act 71 of 2008)

    Hi all, this is my first time on the Forum. Hope someone will be able to assist.

    I've been thrown into the deep end and need to answer these 3 questions of a client of mine. Tried phoning the CIPC but after 40min of "Your call is important to us, please hold for the first available operator..." i just lost it... Couldnt stay on the line for another minute! Isn't the service at CIPC pathetic?

    1. Can the Memorandum of Incorporation (MOI) be updated more than once?
    2. More than once during the same financial year?
    3. What percentage of the company in terms of shares/shareholders, must agree upon amendments to the MOI before the MOI can be updated? or is it only up to the director(s)?

    Thanx
    KDG

  2. #2
    Diamond Member Justloadit's Avatar
    Join Date
    Nov 2010
    Location
    Johannesburg
    Posts
    3,480
    Thanks
    134
    Thanked 695 Times in 593 Posts
    Blog Entries
    1
    I am no expert here, but I would assume so, provided the procedure of change is followed of the existing MOI, and thereafter following what ever procedures have been agreed by the corum.

    Just remember there must be minutes and signed by all parties concerned. If in doubt contact a lawyer who can assist in the proper procedure as according to the original MOI
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

  3. #3
    Platinum Member sterne.law@gmail.com's Avatar
    Join Date
    Oct 2009
    Location
    Durban
    Posts
    1,332
    Thanks
    38
    Thanked 566 Times in 413 Posts
    Blog Entries
    7
    You can change the MOI as many times as you want.
    If they start conflict they get read together. the commission may instruct you to consolidate your documents where there are addendum's
    The standard MOI which is on the CIPC web sets out the voting requirements. You can change these requirements subject to a few protection type standards.
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

  4. #4
    New Member
    Join Date
    Feb 2012
    Location
    Strand
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Thank you very much!



    Quote Originally Posted by Justloadit View Post
    I am no expert here, but I would assume so, provided the procedure of change is followed of the existing MOI, and thereafter following what ever procedures have been agreed by the corum.

    Just remember there must be minutes and signed by all parties concerned. If in doubt contact a lawyer who can assist in the proper procedure as according to the original MOI

Similar Threads

  1. The Companies Act 71 of 2008: Legal Personality: Lifting the corporate veil
    By Citizen X in forum General Regulatory Compliance Forum
    Replies: 0
    Last Post: 07-Dec-11, 11:38 AM
  2. TAx 2008
    By kimmy99 in forum Tax Forum
    Replies: 3
    Last Post: 02-Dec-08, 04:19 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •