Document background
The Memorandum of Association of Automobile Company is a crucial incorporation document required under Philippine law when establishing an automotive manufacturing or distribution company. This document is mandated by the Revised Corporation Code of the Philippines and must be filed with the Securities and Exchange Commission as part of the incorporation process. It sets forth the company's fundamental characteristics, including its name, registered office, corporate objectives specifically related to automobile manufacturing and sales, capital structure, and governance framework. The memorandum serves as evidence of compliance with Philippine corporate law requirements and provides the foundation for all future corporate actions. It is particularly important in the automotive sector due to specific regulatory requirements around manufacturing, environmental compliance, and consumer protection that need to be reflected in the company's objects and powers.
