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The Securities and Exchange Commission of Pakistan (SECP) has developed and placed standardised Model Memorandum of Association (MMA) of sugar and allied business, hotel business, Hajj and Umrah services and educational institutions, on its website.
In a statement on Tuesday, SECP said this is part of the SECP’s initiative to provide specimen MMA for each sector on its website, for the convenience of promoters and to facilitate them in the preparation and submission of documents for registering a company.
Memorandum of Association is the constitution of a company, and it is the main document, which provides information about name, situation of registered office, objects, liabilities and capital of a company. A company cannot be incorporated without memorandum of association.
In case, promoters adopt a standard MMA for its proposed company, examination by the concerned registrar will be easy leading to quick processing and company could be registered on the very same day if other documentation are also complete. staff report
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