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Explain the meaning and importance of articles of association of company.

      

Explain the meaning and importance of articles of association of company.

  

Answers


sharon
The Articles of Associations constitute the rules and regulations by which its internal affairs are governed dealing with such matters as shares, share capital, company’s meetings and directors among others;
Articles of Associations must be signed by seven persons in the case of a public company or two persons if it is intended to form a private company. These signatures must be attested by a witness. If the company has a share capital each subscriber to the share capital must write opposite his name the number of shares he takes and he must not take less than one share.
The Articles of Association are the more important than the memorandum of association in as most court cases in Company Law deal with the interpretation of the Articles.

sharon kalunda answered the question on April 15, 2019 at 05:40


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