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.