Signature to be affixed on memorandum of association

(1) The memorandum of association of a company shall state the full names and addresses of its promoters, indicate the number of shares which each promoter has undertaken to subscribe and be signed by each of them.

(2) The memorandum of association shall clearly contain the names and address of a witness for each promoter and also bear the signature of such witness.

(3) Each promoter shall undertake to subscribe the shares as mentioned in the articles of association of the company and at least one hundred shares if no provision is so mentioned.

(4) No later than one year after the incorporation of a company, an application may be made, pursuant to a decision of the board of directors of the company, to the Office for the rectification of any minor mistake or printing or typing error appearing in the memorandum of association and articles of association submitted along with an application made under Section 4.

(5) If an application is made pursuant Sub-section(4), the Office shall, if it deems proper after examining it, rectify such mistake or error and record the same.

Provided, however, that no matter shall be rectified in a manner to alter the main objectives of the company.