How to amend/alter the MEMART of your Company in Nigeria

How to amend/alter the MEMART of your Company in Nigeria

November 30, 2021

MEMART is the abbreviation for the company incorporation document known as Memorandum and Articles of Association, which is the part of your incorporation documents that reflects the structures, governance, objectives, shareholding, rights and obligations of the company and its members.

A company’s MEMART can be amended from time to time to include or remove a particular objective(s) or terms. To do this, there must be a special resolution passed by the board of the company stating and accepting the changes to be reflected on the MEMART. A new MEMART would be drafted to include the part which was amended or added to it. The company is required to pay the Statutory stamp duty fees online for each copy of the new MEMART after an assessment has been done by an officer of the Federal Inland Revenue Service (FIRS). After which the documents are to be stamped at the nearest stamp duty office (Federal Inland Revenue).

After stamping the documents with the FIRS, a statutory fee for the alteration of the MEMART is made to the Corporate Affairs Commission (CAC). The stamped documents would then be sent to the CAC office for verification and filing.

team 618 Bees

 

 

618 Bees can quickly and easily help you file amend/alter your Company’s MEMART in Nigeria. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission (CAC).

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

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  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.
  • What’s the difference between a business name and an LLC?

    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 
  • What are the terms of a contract?
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    • Legal subject matter
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    • Obligation
  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office
  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.
  • How long does the registration of an industrial design last?

    It is effective for an initial period of 5 years from the date of the application for registration and renewable for two consecutive periods of 5 years
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    You can start renewal 6 months to the date of expiry.
  • How many shareholders do I need to start a company?

    A minimum of one (1) adult shareholder is required to form a company.
  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.
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