Artical of association | Company Law - B Com PDF Download

 Page 1


LEGALENVIRONMENTOFBUSINESS
Page 2


LEGALENVIRONMENTOFBUSINESS
DEFINITION
? Articles are the regulations
or bye-laws of a company
for carrying into effect the
objects of the company as
defined by the company in
its memorandum of
association and for the
management of its internal
affairs.
Page 3


LEGALENVIRONMENTOFBUSINESS
DEFINITION
? Articles are the regulations
or bye-laws of a company
for carrying into effect the
objects of the company as
defined by the company in
its memorandum of
association and for the
management of its internal
affairs.
COMPANIESWHICH MUSTHAVE THEIR OWN
ARTICLES
? The following companies shall
have their own articles.
? Private companies limited by
shares.
? Companies limited by guarantee.
? Unlimited companies.
Page 4


LEGALENVIRONMENTOFBUSINESS
DEFINITION
? Articles are the regulations
or bye-laws of a company
for carrying into effect the
objects of the company as
defined by the company in
its memorandum of
association and for the
management of its internal
affairs.
COMPANIESWHICH MUSTHAVE THEIR OWN
ARTICLES
? The following companies shall
have their own articles.
? Private companies limited by
shares.
? Companies limited by guarantee.
? Unlimited companies.
CONTENTS OFARTICLES OFASSOCIATION
• The business of the company.
• The share capital, different classes
of shares, right of different classes
of share holders.
• Execution of preliminary contracts.
• Procedure of allotment of shares.
• Procedure of issuing of share
certificates.
Page 5


LEGALENVIRONMENTOFBUSINESS
DEFINITION
? Articles are the regulations
or bye-laws of a company
for carrying into effect the
objects of the company as
defined by the company in
its memorandum of
association and for the
management of its internal
affairs.
COMPANIESWHICH MUSTHAVE THEIR OWN
ARTICLES
? The following companies shall
have their own articles.
? Private companies limited by
shares.
? Companies limited by guarantee.
? Unlimited companies.
CONTENTS OFARTICLES OFASSOCIATION
• The business of the company.
• The share capital, different classes
of shares, right of different classes
of share holders.
• Execution of preliminary contracts.
• Procedure of allotment of shares.
• Procedure of issuing of share
certificates.
CONTENTS OFARTICLES OFASSOCIATION
• Dividends and reserves.
• Keeping of books of accounts and 
their audit.
• Common seal of the company.
• Payment of interest out of capital.
• Winding up.