Subscription Clause | MOA | CS Tset Series

In this clause, the persons (includes a body corporate) subscribing to the memorandum declare their desire to be formed into a company and agree to take the shares indicated opposite their respective names.

Following are the statutory requirements regarding subscription of memorandum :-
(i) The memorandum must be signed by each subscriber in the presence of at least one witness who must attest the signatures;
(ii) Each subscriber must take at least one share; if any and
(iii) Each subscriber must write opposite his name the number of shares (if any) which he agrees to take.

Succession Clause (only in the case of OPC): This clause shall state the name of the person who, in the event of the death or incapacity to contract of the subscriber, shall become the member of the company. [This clause shall be the part of Association and Subscription Clause].

The above clauses are compulsory and are designated by the Companies Act as ―conditions‖, on the basis of which alone a company is incorporated.

MCQ OF THE DAY

The Memorandum must be signed by each subscriber in the presense of atleast ........ witness who must attests the signatures.

(a) 5

(b) 3

(c) 1

(d) None Of the above

Answer- C

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Ms. Shruti Shah has successfully completed Company Secretary course in December - 2020,

she secured the All India Rank-1 in CS Professional- New Syllabus, batch- December, 2019.

Also, she was a rank holder of CS Executive course (AIR-7, batch- December, 2018)

as well as of CS Foundation Course (AIR-21, batch- December, 2017).

Apart from Company Secretary Course she's a Commere graduate from

Mumbai University and appearing for law entrance exams.

Achievements-

AIR-1 in CS Professional
AIR-7 in CS Executive
AIR-21 in CS Foundation