Memorandum of Association governs company constitution; alterations and articles require statutory compliance and registrar filing. The Memorandum of Association sets out the company's constitution and must include prescribed clauses such as name, registered office, objects, liability and capital; the Act prescribes specific grounds and procedures for altering the memorandum. The Articles of Association are the company's by laws, subordinate to the memorandum, and may be altered subject to statutory conditions; alterations converting a public company into a private company require central government approval and must be filed with the Registrar within one month of that approval.