The memorandum of association of your company regulates the company's activities with the outside world, such as the company's objects and powers, it registered office address, its name, its type, and specifies the authorised share capital of the company.
Under the new law, the Companies Act 2006, the role of the memorandum of association will change somewhat. These changes are expected to take effect from October 2008. These changes will see the removal of the requirements for an object clause, rendering the memorandum of association a simple statement of certain facts.
A new model set of articles of association preshadowed by the new legislation will be a single constitutional document which will effectively subsume the role currently performed by the memorandum of association.
Until October 2008, however, a company's memorandum of association must include a statement with respect to the object of the company.