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Memorandum Of Association Of Investment Company

Memorandum Of Association Of Investment Company Template for Nigeria

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Memorandum Of Association Of Investment Company

"I need a Memorandum of Association of Investment Company for a new Nigerian venture capital firm planning to launch in March 2025, focusing on tech startups across West Africa, with provision for both local and foreign investors and multiple share classes."

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Document background
The Memorandum of Association of Investment Company is a mandatory constitutional document required for incorporating an investment company in Nigeria. This document must be filed with the Corporate Affairs Commission (CAC) as part of the company registration process under the Companies and Allied Matters Act (CAMA) 2020. It defines the company's relationship with the outside world, stating its objects, powers, and limitations, particularly in relation to investment activities. The document is crucial for obtaining necessary licenses from the Securities and Exchange Commission (SEC) and other regulatory bodies. It serves as the foundation for the company's legal existence and operations in Nigeria's investment sector, defining the scope of permitted investment activities and establishing the framework for shareholder relationships.
Suggested Sections

1. Name Clause: States the registered name of the investment company

2. Registered Office Clause: Specifies that the registered office of the company will be situated in Nigeria

3. Objects Clause: Details the primary and ancillary business objectives of the investment company, including types of investments, financial services, and permitted activities

4. Limitation of Liability Clause: States that the liability of members is limited by shares

5. Share Capital Clause: Declares the authorized share capital, types of shares, and nominal value of shares

6. Subscriber's Declaration: Contains the names, addresses, and signatures of subscribers, along with the number of shares they agree to take

Optional Sections

1. Additional Business Activities: Used when the company plans to engage in additional permitted financial services beyond core investment activities

2. Foreign Investment Provisions: Include when the company expects foreign shareholders or investments, detailing compliance with NIPC requirements

3. Specialized Share Classes: Added when the company wishes to create multiple share classes with different rights and restrictions

4. Islamic Finance Compliance: Include when the investment company plans to offer Sharia-compliant investment products

5. Digital Assets Provisions: Added when the company intends to deal with cryptocurrency or digital assets investments

Suggested Schedules

1. Share Capital Structure: Detailed breakdown of share classes, rights, and nominal values

2. Initial Subscribers: List of initial subscribers with their full details and shareholding information

3. Regulated Activities: Comprehensive list of investment and financial activities the company is authorized to undertake

4. Directors' Details: Information about initial directors and their qualifications

5. Compliance Framework: Overview of regulatory compliance requirements and internal control mechanisms

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Investment Management

Asset Management

Private Equity

Venture Capital

Wealth Management

Investment Banking

Securities Trading

Fund Management

Corporate Finance

Relevant Teams

Legal

Compliance

Corporate Governance

Executive Leadership

Investment Management

Risk Management

Corporate Affairs

Regulatory Affairs

Finance

Board of Directors

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Investment Officer

Legal Counsel

Company Secretary

Compliance Officer

Investment Manager

Portfolio Manager

Risk Manager

Corporate Governance Officer

Board Director

Financial Controller

Regulatory Affairs Manager

Industries
Companies and Allied Matters Act (CAMA) 2020: The primary legislation governing company formation, registration, and operation in Nigeria. It provides the legal framework for incorporating companies and specifies requirements for memorandum of association.
Investment and Securities Act 2007: Regulates the Nigerian capital market and provides for the registration, operation and regulation of investment companies and securities trading.
Nigerian Investment Promotion Commission Act: Provides guidelines for foreign investment in Nigerian companies and protection of foreign investments.
Money Laundering (Prevention and Prohibition) Act 2022: Sets out anti-money laundering requirements for financial institutions and investment companies.
Central Bank of Nigeria Act 2007: Provides regulatory framework for financial institutions and investment companies operating in Nigeria.
Foreign Exchange (Monitoring and Miscellaneous Provisions) Act: Regulates foreign exchange transactions and international investments in Nigerian companies.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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