What are the contents of Articles of Association?

Contents of the Articles of Association

• Share capital: Rights of various shareholders, share certificates, payment of a commission, etc.
• Lien of shares.
• Calls on shares.
• The process for the transfer of shares.
• Transmission of shares.
• Forfeiture of shares.
• Surrender of shares.
• Process for conversion of shares to stocks.

What is AOA and explain its contents?

Articles of Association (AOA) describes the rules and regulations for the internal management of the company. It usually contains regulation relating to Share capital and Variation rights, Lien, Calls on Shares, Transfer and Transmission of shares etc.

What is article of association in Nigeria?

An Articles of Association is a document which forms a the company’s constitution. It is the document that regulates the affairs of the company as it defines the roles and responsibilities of directors and the means by which the members of the company exert control over the board of directors.

What are the contents of Articles of Association Class 11?

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 is the difference between MoA & AOA?

The first difference between MOA and AOA while the MOA (Memorandum of Association) describes the powers and objects of the company, the AOA (Article of Association) defines its rules. The MOA is subordinate to the Companies Act, and the AOA (Articles of Association) is subordinate to the memorandum.

What are the main contents of MoA and AOA?

A memorandum of association contains a name clause, registered office clause, object, objects clause, liability clause, capital clause, and association clause.

• Name Clause.
• Registered Office Clause.
• Objects or Objective Clause.
• Object Clause.
• Liability Clause.
• Capital Clause.
• Association Clause.

What is the purpose of AOA?

Articles of association form a document that specifies the regulations for a company’s operations and defines the company’s purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.

What is the effect of article of association?

Effect of the Articles The articles of association become a contract between the company and its shareholders; it is a statutory contract of a special nature. Courts regarded these documents as a business documents and therefore construed so as to give them business efficacy.

What is MoA and AOA?

MoA is an abbreviation for Memorandum of Association, and AoA stands for Articles of Association. They safeguard and structure your business, helping in establishing the company’s identity, working methodology, and goal.

What is the full form of AOA?

An Article of Association ( AoA ) lays down the rules and regulations for the internal management of the company. It specifies the duties, rights, and powers of the management of the company. An Article of Association is subsidiary to the Memorandum of Association(MoA).

What are the contents of an article of association?

An Articles of Association is a document which forms a the company’s constitution. It is the document that regulates the affairs of the company as it defines the roles and responsibilities of directors and the means by which the members of the company exert control over the board of directors. The contents of the articles include: classes of

Can a company change the Articles of association?

A Company can alter its Association of Articles if the need arises. The Company has to pass a Special Resolution (a 2/3rd majority of members present in the General Meeting) in order to alter its provisions. It is also important to remember that the Court does not have the power to alter the AOA.

What are the contents of the Articles of incorporation?

The contents of the articles include: classes of shares, the preemptive rights of members of the company, transfer and transmission of the shares of the company.

Can a public company be limited by shares in Nigeria?

Public Company Limited by Shares. This is similar to the private company limited by shares but it can invite the members of the public to subscribe to its shares (that is, it may be listed on the Nigerian Stock Exchange). There is no limit to the membership of the company. The name of the company must end with “PLC”.