Explanation:
The memorandum of association is a legal document that sets out the constitution and objectives of a company. It contains various clauses that define the rights, powers, and obligations of the company and its members. The correct answer is D: directors, as this is not a clause typically included in the memorandum of association.
The other clauses mentioned, A: situation, B: capital, and C: subscription, are commonly found in the memorandum of association and serve different purposes:
1. Situation: This clause specifies the registered office address of the company, which is the official address for correspondence and where legal documents can be served.
2. Capital: This clause outlines the amount of initial capital with which the company is registered. It specifies the authorized share capital of the company and the division of shares among the subscribers.
3. Subscription: This clause details the number of shares subscribed by each member of the company and the amount paid or agreed to be paid for those shares.
In summary, the memorandum of association is a crucial document that establishes the company's existence and provides important information about its structure and operations. While clauses like situation, capital, and subscription are commonly included, the directors are typically addressed in the articles of association, which is another important document that governs the internal management of the company.