Amending Memorandum of Incorporation – Existing SMME Private Company

R750.00

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This MOI is purely for use by Existing SMME Private Companies (small businesses) that wish to amend their articles and memorandum of association (as such was referred to under the previous Companies Act).

For your convenience, we have drafted a shareholders’ agreement that is compatible with the SMME PRIVATE COMPANY MOI FOR EXISTING SMME PRIVATE COMPANIES, should you need such. It is available for purchase here.

It may be used where the existing smme private company has any number of shareholders and any number of directors, for example, it can be used in the following scenarios:

  • many shareholders and many directors;
  • one shareholder and many directors;
  • many shareholders and one director;
  • one shareholder and one director;
  • situations where all shareholders are also directors.

This SMME PRIVATE COMPANY MOI FOR EXISTING SMME PRIVATE COMPANIES:

  • does not contain ring-fencing provisions, as it does not allow for any restrictions or prohibitions to a company’s MOI;
  • restricts the transferability of securities;
  • prohibits the company from offering its securities to the public.

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SKU: MNY-MOI-EXIST-SMME-PRIVCO-001 Category:

Description

Moneyweb Insider Gold subscribers receive 12.5% discount!

This MOI is purely for use by Existing SMME Private Companies (small businesses) that wish to amend their articles and memorandum of association (as such was referred to under the previous Companies Act).

It may be used where the existing smme private company has any number of shareholders and any number of directors, for example, it can be used in the following scenarios:

  • many shareholders and many directors;
  • one shareholder and many directors;
  • many shareholders and one director;
  • one shareholder and one director;
  • situations where all shareholders are also directors.

This SMME PRIVATE COMPANY MOI FOR EXISTING SMME PRIVATE COMPANIES:

  • does not contain ring-fencing provisions, as it does not allow for any restrictions or prohibitions to a company’s MOI;
  • restricts the transferability of securities;
  • prohibits the company from offering its securities to the public;

To effect amendments to your SMME Private Companies constitutive document, please visit the CIPC website here. Register as a customer here. Note that since ring-fencing is not envisaged in this MOI, it will NOT be necessary to complete CoR 15.2 Annexure A.

For your convenience, we have drafted a shareholders’ agreement that is compatible with the SMME PRIVATE COMPANY MOI FOR EXISTING SMME PRIVATE COMPANIES, should you need such. It is available for purchase here.

By amending your own company MOI, you:

  • get to engage with each clause of the MOI and understand the implications thereof;
  • get to know what must and must not be in your shareholders’ agreement; remember in terms of the new Companies Act, the MOI CANNOT be amended by a shareholders’ agreement and should the latter conflict with the MOI, it will be void to the extent of the conflict;
  • ensure that you hold your company’s legal affairs in your own hands; as a small business owner it is imperative for you to understand the legal and regulatory framework that impacts your business to the best of your ability; why not start with your MOI and shareholders’ agreement;
  • get to engage and register with CIPC; it is best- as a small business owner- to start engaging with CIPC as soon as you are able to and to understand the workings of CIPC. This will help you when it comes to registering annual returns and handling the company secretarial and governance work related to your small business; it really is best to start sooner rather than later.

    Moneyweb Readers: R750.00 incl VAT
    Moneyweb Insider Gold subscriber: R 656.25 incl VAT

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