I need clarity on a memorandum of association vs a memorandum of...

I need clarity on a memorandum of association vs a memorandum of incorporation. Can you advise?

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My company already has a Memorandum of Association. I see that the Companies Act 71 of 2008 refers to a Memorandum of Incorporation. Is this the same thing? Do I need to do anything or am I compliant with my existing MOA?

The Companies Act 71 of 2008 has replaced the Companies Act 61 of 1973, changing the rules pertaining to MOIs extensively. Under the new act, the MOI is a legally binding document between shareholders themselves, between the company and shareholders, and between the company and third parties.

Companies with an MOI under the old Act must now align their existing memoranda with the new Act, and it is recommended that they consult an attorney to do so.

Read the full article here.

Nicolene Schoeman-Louw
Nicolene Schoeman – Louw is an admitted attorney of the High Court of South Africa, as well as being a Conveyancer, Notary Public and Mediator. She is the Managing Director of Schoemanlaw Inc Attorneys, Conveyancers and Notaries Public (Schoemanlaw Inc Attorneys) in Cape Town. Visit www.schoemanlaw.co.za for more information or email enquiries@schoemanlaw.co.za