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Hi Mike,
I watched all the lectures for company law. However the last section in chapter 10 of the notes confuses me. It is titled ‘objects’.
What does the word ‘object’ mean in this context? are you referring to the company as a separate legal entity (‘object’)?
Thankyou.
The “objects” clause of a company’s memorandum of association used to have a really important role to play in company law – so much so that I would spend a complete morning on lectures just about the objects clause
Since 1985 the clause has lost most of its teeth and is now merely a formality
Historically the objects clause spelled out the outer limits of a company’s permissable activities. Unlike humans (who can do anything they want so long as it’s legal) companies were allowed to do only those activities that they were specifically allowed to do by their objects clause
But that’s history and, as I said, the objects clause is now of almost nil significance
OK?
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