What are the contents of the articles of association of a company?
Contents of Articles of Association Share capital including sub-division, rights of various shareholders, the relationship of these rights, payment of commission, share certificates. Lien of shares: Lien of shares means to retain possession of shares incase the member is unable to pay his debt to the company.
What are two 2 contents of the articles of association?
Generally, the AoA includes a company’s legal name, address, purpose, equity capital, organization of the company, financial provisions, and provisions regarding the shareholder meetings.
What are the contents of articles of association answer?
Contents of Articles of Association (AOA): Amount of shares, capital, value, and type of shares. Rights of each class of shareholders regarding voting, dividend, return of capital. Rules regarding the issue of shares and debentures. Procedures as well as regulations in respect of making calls on shares.
What is article of association as per Companies Act, 2013?
As per Section 2(5) of the Companies Act, 2013 articles means the Articles of Association (AOA) of a company originally framed or altered or applied in pursuance of any previous company law or of this Act.
What are the contents of articles of association Class 11?
CONTENTS OF ARTICLES OF ASSOCIATION
- DIRECTORS.
- GENERAL MEETINGS.
- ACCOUNTING AND AUDITING.
- SHAREHOLDERS.
- LIEN OF SHARES.
- TRANSFER AND TRANSMISSION OF SHARES.
- FORFEITURE AND SURRENDER OF SHARES.
- CONVERSION OF SHARES IN STOCK.
What do you means by article of association under company Act 1956 What are it’s contents?
According to Section 2(2) of the Companies Act, 1956 ‘articles’ means the articles of association of a company as originally framed or as altered from time to time in pursuance of any previous companies laws or of the present Act, i.e. the Act of 1956. The Articles regulate the internal management of the company.
What are the contents of memorandum and articles of association?
The memorandum of association is the document that sets up the company and the articles of association set out how the company is run, governed and owned. The articles of association includes the responsibilities and powers of the directors and the means by which the members exert control over the board of directors.
What are the features of article of association?
Features of Articles of Association It lays down the duties of stockholders also. Some statutory clauses should be included in the article of associations and other clauses can be chosen by the stockholders to make them the by-laws of the organization. The Court can declare a clause ultra vires if it is unreasonable.
What are the contents of memo?
A memo consists of two parts: the identifying information at the top, and the message itself. At the top, identify for whom the memo has been written, who is sending it, the subject, and the date. The subject line serves as the memo’s title.
How many chapters are there in Companies Act, 2013?
The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.
What are the Articles of Association of a company?
Under Section 2 (5) of the Companies Act, 2013 characterizes ‘articles’ as the “articles of association of a company initially outlined, or as adjusted now and again in compatibility of any past company laws or of the present.” The articles of association additionally set up a contract between the members and between the members and the company.
Do the requirements of the Companies Act override the existing articles?
In the case of existing companies, in so far as their articles are inconsistent with the Companies Act, the requirements of the Companies Act will override those of the existing articles. 7. Depending upon the applicability, a company may adopt all or any of the regulations contained in the model Article. 8.
Which companies are required to file an articles of association?
Companies Required to File an Articles of Association. 1 1. Unlimited companies. The document must include the number of employees and the amount of share capital, if any. 2 2. Companies limited by guarantee. 3 3. Private companies limited by shares.
What are the provisions of articles of incorporation?
It gives provisions for the company’s inner workings such as the manner of making calls, director’s/employees qualifications, powers and duties of auditors, forfeiture of shares, dividend policy, etc. The provisions of the articles are binding on the members as well as the company.