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Requirement to be stated in the memorandum: According to section 3, for the incorporation of the company, there must be at least 7 persons in case of the public company and at least 2 persons in case of the private company. Section 13 requires the Memorandum of a limited company to contain the following clauses:-
1. The name of the company with limited as the last word in case of a public limited company and with Private Limited as the last word in the case of a Private Limited Company.
2. The state in which the registered office of the company is to be situated.
3. The objects of the company must be separated on two basis :-
(i) The main objects of the company to be pursued by the company on its incorporation and objects incidental to be fulfillment of the main object
(ii) Other objects which are not included above.
4. The amount of authorized share capital divided into shares of fixed amounts.
5. The liability of members is limited if the company is limited by shares or by Guarantee.
6. In case of companies with objects not confined to one state, the state to whose territories the objects extend.
(Clause 4 and 5 will not be included in the Memorandum of Association of an unlimited company.)
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