The Articles of Association (AOA) is a
document that contains the purpose of the company as well as the duties and
responsibilities of its members. It is an important document which needs to be
filed with the Registrar of Companies. These are the bylaws of a
company that defines the mode and manner in which the company’s business
is to be carried on. In the Companies Act, Table A Prescribes model for the
articles of the companies. Table A is a document containing rules and
regulations for the internal management of a company. A company which does not
have separate AOA may adopt Table A.
1.
Amount of shares, capital, value and
type of shares
2.
Rights of each class of shareholders
regarding voting, dividend, return of capital
3.
Rules regarding issue of shares and
debentures
4.
Procedures as well as regulations in
respect of making calls on shares.
5.
Manner of transfer of shares
6.
Declaration of dividends
7.
Borrowing powers of the company
8.
Rules regarding the appointment,
remuneration, removal of directors
9.
Procedure for conducting proxy, quorum,
meetings etc.,
10.
Procedures concerning keeping of books
and audits
11.
Seal of the company
12.
Procedures regarding the winding up of
the company.
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