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 examples of articles of association?
Contents of the Articles of Association
- 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.
- Share warrants.
What is included in articles of association?
Articles of association outline the rules for running, governing and owning the corporation; including the responsibilities and powers of the directors, and how much influence shareholders have over the board of directors.
How do I find a company’s Article of Association?
The stepwise procedure to extract the Article of Association is given under: Firstly Search www.mca.gov.in, then click on the menu, under the menu click on MY WORKSPACE. You have to register yourself as Register User/Business User on the Ministry of Corporate Affair Website.
Can a company alter its articles of association?
A company can go for an alteration of its articles after its incorporation as may be necessary for its management. Section 14 of the Companies Act, 2013 contains the provisions for the alteration of the Articles of Association of a company.
What is an article of a company?
Articles of incorporation are a set of formal documents filed with a government body to legally document the creation of a corporation. Articles of incorporation generally contain pertinent information, such as the firm’s name, street address, agent for service of process, and the amount and type of stock to be issued.
What is the difference between articles of association and memorandum of association?
Memorandum of Association is a document that contains all the fundamental information which is required for the incorporation of the company. Articles of Association are a document containing all the rules and regulations that governs the company.
Is a company constitution the same as articles of association?
Constitution. A private company limited by shares (LTD company), being a company incorporated under the Companies Act 2014 has a one document constitution. This consists of the articles of association.
Is Article of Association same as bylaws?
Typically, the articles of incorporation consist of general details about your nonprofit. Your bylaws outline the detailed rules and procedures for managing your nonprofit. All nonprofits must file their articles of incorporation with the proper state agency.
What are the contents of articles?
CONTENTS OF ARTICLES OF ASSOCIATION
- GENERAL MEETINGS.
- ACCOUNTING AND AUDITING.
- LIEN OF SHARES.
- TRANSFER AND TRANSMISSION OF SHARES.
- FORFEITURE AND SURRENDER OF SHARES.
- CONVERSION OF SHARES IN STOCK.
What are articles of a company?
Do all companies have articles of association?
Contents. All limited companies must have articles of association. These set the rules company officers must follow when running their companies. “Model” articles of association are the standard default articles a company can use.