CLAT PG Exam > CLAT PG Notes > Company Law > Articles of Association
Articles of Association | Company Law - CLAT PG PDF Download
| Table of contents |
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| Understanding Articles of Association |
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| Definition and Importance |
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| Relationship with Memorandum of Association |
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| Framing of Articles of Association |
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| Signing of Articles of Association |
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Understanding Articles of Association
The Articles of Association (AoA) are a crucial document for any company, outlining the rules and regulations for its internal management and governance. Let's break down the key aspects of AoA as defined in the Companies Act, 2013.
Definition and Importance
- The AoA, as per the Companies Act, 2013, refers to the articles of association of a company, which can be originally framed or altered over time.
- It serves as a rule book for the company's internal management, detailing the conduct of business and the powers of various officers.
- The AoA is considered a contract between the company and its members, governing their rights and obligations.
Question for Articles of AssociationTry yourself: What is the purpose of Articles of Association for a company?View Solution
Relationship with Memorandum of Association
- The AoA is subordinate to the Memorandum of Association (MoA), which is the fundamental constitutional document of the company.
- If there is a conflict between the MoA and the AoA, the provisions in the MoA will prevail.
- Any articles that exceed the scope of the MoA are considered ultra vires and invalid.
Framing of Articles of Association
- The AoA must be framed in the prescribed form as per the Companies Act, 2013.
- The model form varies depending on the type of company, such as those limited by shares, guarantee, or unlimited companies.
Signing of Articles of Association
- The Companies (Incorporation) Rules, 2014 outline the signing process for the Memorandum and Articles.
- All subscribers must sign in the presence of a witness, providing their details.
- For illiterate subscribers, a thumb impression is used, and the content is read out to them.
- If a subscriber is a body corporate, a director authorized by a board resolution must sign.
- In the case of a Limited Liability Partnership (LLP), a partner authorized by all partners must sign.
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FAQs on Articles of Association - Company Law - CLAT PG
| 1. What are Articles of Association and why are they important for a company? |  |
Ans. Articles of Association are a set of rules and regulations that govern the internal management and administration of a company. They outline the powers, responsibilities, and procedures for the company’s directors and shareholders. The importance of Articles of Association lies in their role in providing a framework for how a company operates, ensuring compliance with legal requirements, and protecting the interests of shareholders and stakeholders.
| 2. How do Articles of Association relate to the Memorandum of Association? | |
Ans. The Memorandum of Association and the Articles of Association are two fundamental documents required for the incorporation of a company. While the Memorandum outlines the company's structure, objectives, and scope of activities, the Articles provide detailed rules for the internal management of the company. Essentially, the Memorandum sets the framework within which the Articles operate, and both documents must align with each other.
| 3. What is the process for framing Articles of Association for a new company? | |
Ans. The process for framing Articles of Association typically involves drafting the document to reflect the specific needs and governance structure of the new company. This can be done by the promoters or legal advisors who ensure that the Articles comply with the Companies Act and any other legal requirements. Once drafted, the Articles must be approved by the shareholders and filed with the Registrar of Companies during the incorporation process.
| 4. Who is responsible for signing the Articles of Association when a company is formed? | |
Ans. The Articles of Association must be signed by the initial subscribers to the Memorandum of Association, who are usually the founding members or shareholders of the company. Their signatures indicate their agreement to the rules laid out in the Articles, and this document must be submitted to the Registrar of Companies as part of the incorporation process.
| 5. Can a company modify its Articles of Association after incorporation, and if so, how? | |
Ans. Yes, a company can modify its Articles of Association after incorporation. This typically requires passing a special resolution at a general meeting of the shareholders. Once the resolution is passed, the amended Articles must be filed with the Registrar of Companies to ensure that the changes are officially recognized. However, any changes must comply with the Companies Act and should not violate the rights of existing shareholders.
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About this Document
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Nov 23, 2024 Last updated |
Document Description: Articles of Association for CLAT PG 2024 is part of Company Law preparation.
The notes and questions for Articles of Association have been prepared according to the CLAT PG exam syllabus. Information about Articles of Association covers topics
like Understanding Articles of Association, Definition and Importance, Relationship with Memorandum of Association, Framing of Articles of Association, Signing of Articles of Association and Articles of Association Example, for CLAT PG 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Articles of Association.
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