# Change of Objects after Raising Money from Public through Prospectus
## The Concern
When a company raises money from the public via a prospectus, investors subscribe relying on the stated objects. If unutilised money still lies with the company, allowing a casual change of objects could amount to a betrayal of investor trust. Section 13(8) therefore imposes special safeguards.
## Conditions to Change Objects
A company that has raised money from the public through a prospectus and still has any unutilised amount out of such money:
1. Special Resolution through Postal Ballot must be passed.
2. Newspaper Publication: Details of the resolution must be published in two newspapers — one in English and one in the vernacular language — circulating at the place of the registered office.
3. Website Posting: Same details must be placed on the company's website (if any), with justification for the change.
4. Exit Opportunity to Dissenters: The promoters and shareholders having control shall give the dissenting shareholders an opportunity to exit, in accordance with SEBI regulations.
## Registration of the Alteration (Section 13(9))
The Registrar shall register any alteration of the memorandum with respect to the objects, and certify the registration within 30 days from the date of filing of the special resolution.
## Effect (Section 13(10))
No alteration under Section 13 has any effect until it has been registered in accordance with the provisions of this section.
## Guarantee Companies Without Share Capital (Section 13(11))
In a company limited by guarantee not having a share capital, any alteration of the memorandum intending to give any person a right to participate in divisible profits otherwise than as a member, shall be void.