Can a company's object clause be used to determine its principal line of business for regulatory purposes?

It states the purpose(s) for which a company is formed and the intended business activities of the company. Since 1997, the objects clause has been optional. Mar 5, 2024 ... This is a clause that sets out a company's purpose and the scope of its activities. Essentially, it restricts what a company can do. In company law it means something beyond the object clause of its memorandum of association. A company is an artificial or legal person and, unlike a natural. The Court in cotman v. Brougham34 held this device to be effective. (iii) The subjective objects clause – A further device to evade the ultra vires rule was the ... Prior to the Companies Act 1985 if the company entered into a contract outside of its object clause it would be void and unenforceable. The provisions of the ... Alteration of objects clause by special resolution. 1241. (1) Subject to subsection (2), an unlimited company may, by special resolution, ... Nov 18, 2020 ... The objects clause of the Memorandum enumerates the objects of the company, so any act which is beyond the objects clause is ultra vires the ... Aug 3, 2022 ... What is the Object Clause · The company's main objectives are to be pursued by the company upon its incorporation; · Auxiliary or ancillary ... SHORT SUMMARY: This Article contains the procedure for change in Object clause of the. Company Under Companies Act, 2013 with detailed documentation. Under pre-2014 company law, companies were limited to acting within the purposes outlined in their objects clause. The Companies Act 2014 abolished this ...