Companies Act Section 15 — Alteration of memorandum or articles to be noted in every copy

CHAPTER II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO

Commercial / Corporate

Summary

Sub-section (1) requires that every change made to a company's memorandum or articles must be noted in every copy of that document. So if the memorandum or articles are altered, each copy of the relevant document must reflect that alteration.

Sub-section (2) states that if a company fails to comply with sub-section (1), the company and every officer responsible for the default will have to pay a penalty of one thousand rupees for each copy of the memorandum or articles that was issued without noting the alteration.

Official Text

(1) Every alteration made in the memorandum or articles of a company shall be noted in every copy of the memorandum or articles, as the case may be.

(2) If a company makes any default in complying with the provisions of sub-section (1), the company and every officer who is in default shall be liable to a penalty of one thousand rupees for every copy of the memorandum or articles issued without such alteration.