Objects clause

Objects clause,

Definition of Objects clause:

  1. A clause in a memorandum of association specifying the objects for which the company was established.

  2. Section in a memorandum of association that describes the objectives for which the firm was formed. If the firms activities fall outside of these objectives, the firm is said to be acting ultra vires (beyond its powers).

How to use Objects clause in a sentence?

  1. Under the 1981 Act, the Minister of Finance can regulate the business activities of all Bermuda companies, both exempted and local, by controlling the objects clauses available to them.

Meaning of Objects clause & Objects clause Definition