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chapter indicators Of Growth And Development jessica money and inflation chapter painting and monetary policy chapter employment chapter population agriculture sector foreign trade policy pretend industrial sector chapter emerging shooting union economicMemorandum of Association and Articles of Association are the important documents for the establishment of a company. After registration of these documents, the artificial character of a company starts getting legal entity. Articles of Association is a document regulating the internal management

of a company Meaning: "Articles means the set of Rules regulating internal

management of a company"

Importance: (1) Important in the daily administration. (2) Important for the secretary (3) Useful in achieving the objects (4) Useful in determining various relationship (5) To ascertain whether a company is a public company or private company.

The provisions of the Companies Act, 2013 relating to Articles of Association: (1) The subscribers have to put their signatures (2) Signature in presence of witness is must (3) Entire specimen table or part thereof may be taken. (4) It is necessary to observe the provisions of the Articles of Association. (5) It is not binding to the third party. (6) The provisions of Articles of Association must not be contrary to those of Memorandum of Association. (7) Three main characteristics of a Private Company (1) Limited Number of members, (11) Restriction on Share transfer, (ii) No invitation to the public to purchase the shares (8) Any person can peruse the Articles of Association of a company and also obtain copy thereof. (9) It can be altered by special resolution. (10) Statement from the promoters to the effect that they are not involved in any offences Contents of the Articles of Association:

Table F: Particulars to be included in the Articles of Association of a Company limited by Shares are as follows:

(1) List of the words of the Companies Act (2) Type of Share Capital (3) Rights of Shareholders (4) Share lien (5) Transfer of Share instalments/ Rules about the forfeiture (6) Change in Share capital (7) Investment of profit. (8) Buyback of shares (9) Rules regarding the administration of General Meeting (10) Right to vote: Rules about proxies (11) Rules about the remuneration of Board of Directors (12) Common Seal/stamp-its use- preservation (13) Rules about

Dividends (14) Rules regarding reserves - Accounts (15) Rules about indemnity. Table G: In a Company Limited by Guarantee and having Share Capital - The liability of the members is limited only to the extent of number of shares in which they have given guarantee.

Such companies have also to accept the Articles of Associations of Table F Table H: Articles of Association of a Company Limited by Guarantee and not having Share Capital has to accept this type of Articles of Association which includes (1) number of members (2) General Meeting (3) conducting of the meeting/adjourn rules for voting rights (4) Board of Directors
them. Such companies are not permitted to use word "Limited" after their names and they have to accept the Articles of Association as prescribed in Table F. Table J: The liabilities of the members are unlimited in a Company with Unlimited Hability