Write a short note on the Articles of Association.
Meaning and definitions of the Articles of Association
(Meaning and Definition of Articles of Association) The second important form in the documents sent to the Registrar’s Office for the amalgamation of the company is the Articles of Association. Councilor’s Articles means that document which clearly mentions the rules and bye-laws made for the smooth running of the company and fulfillment of the objectives as per the Councilor’s Memorandum of Understanding.
As per Section 2(5) of the Companies Act, 2013 – “Articles of Councilors” means the Articles of Association of the Company which were originally made or modified from time to time under the previous Companies Acts or this Act.
According to Lai Chancellor Cairns, “The Articles define the mutual rights, duties, powers of the entire company and the Board of Directors and lay down the manner and form in which the business of the company is to be conducted and the manner and form of the According to which changes may be made in the internal operations of the company from time to time.
According to Judge Bowen, “Articles are the interim rules of the company. In fact, this document refers to the rules and bye-laws made for the fulfillment of the objects and functions under the Councilor’s Memorandum and for the smooth running of the company.” According to Judge Charles Years, “The Councilor’s Articles of Association is such a document,
Regulates the mutual rights of the members and the manner in which the
The business will be carried on.”
It is clear from the above definitions that “The Articles of Councilors are the members of the company under the Memorandum of Association.
There are rules and bye-laws made under which the internal affairs of the company are controlled and
is done regularly. These Articles should be printed, divided into paragraphs and signed by the signatories of the Council Memorandum. In addition, they should also bear adequate stamps.