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Unformatted text preview: t of another company so as to be capable of being misleading.
y What can a coy do? What can a coy do? Objects Clause
y pursue objects
y – main objects
– dependent objects
– powers y s 19(1) additional powers – patriotic & charitable donations
– Sch 3 powers
– nb cl 1 y y Public Bank Bhd v Metro Construction Sdn Bhd
Lim Beng Choon J held that a company’s objects, as stated in its memorandum of association, cannot be departed from. Any attempted departure is as invalid as if the memorandum were a statute of incorporation; it is ultra vires the company and cannot be validated by assent of a general meeting of the members or by taking judgment against the company by consent or by estoppel y y ArabMalaysian Finance Bhd v Meridien International Credit CorporationLtd London The memorandum of association should set out the purpose for which the company was formed to achieve and the kind of activities or business which it is to carry on. It is in the objects clause of the memorandum of association that the perimeter of permissible activities of the company is set out, so that if it attempts to do anything beyond that perimeter, it is exceeding its objects and thereby acting ultra...
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This document was uploaded on 03/26/2014.
- Spring '14