The object of the Company is defined in the Memorandum of Association of the company which determines the scope and range of business activity of company for which the company operates. A company can change its objects clause by altering in MOA. The reason behind to change business activity of company is expansion or change in goals. If you wish to expand your business in other industries as well or you have changed your business goals then you may go for alteration of business objectives of the company.
Change in objects of the company provides a new range to perform the business activity of company where the entity is seeing more opportunity to perform.
By change in objects clause of company will also provide entrant in new industries, which may helps in expansion of companies business.
If directors or members of company want to operate in another area of market may also opt the option for alteration.
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