How memorandum of association is an unalterable charter?

The memorandum of association serves as the foundational document for a company, outlining its objectives, powers, and structure. It acts as an unalterable charter because any changes to its provisions typically require a formal process, including shareholder approval and compliance with legal regulations. This permanence ensures that the company's core purpose and limitations remain intact, providing stability and clarity for stakeholders. Ultimately, it protects the interests of shareholders and creditors by defining the scope of the company's activities.