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Articles of Association
Articles of Association(AA)are the rules regulations and bye-laws for the internal management of the affairs of the company
AA next only in importance to the MA. AA are framed with the object of carrying out the aims and objectives as set out in the MA.
Contents of AA :
1.Share Capital,rights of share holders,variation of these rights,payment of underwriting commission.
2.Lien on shares.
3.Transfer of shares
4.Transmission of shares
5.Forfeiture of shares
6.Conversion of shares in to stocks
7.Calls on shares
9.Alteration of Capital
10.General Meetings and Proceedings thereat
11.Voting rights of members ,voting & proxies
powers and proceedings of Board of Directors
15 .Dividends and reserves
16.Accounts ,audit and borrowing powers.
17.Capitalization of profits
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