Notes On contents Of Articles Of Association:

             An Article of Association contains the rules, regulations and bye-laws that are framed for the internal management of the company. They are framed with the object of carrying out the aims and objectives of the organisations as set out in the Memorandum of Association of the company.

             In framing the Article of Association, caution must be taken to see that the framed regulations do not bypass the powers of the company.

Contents Of Article of Association:
  1. Share Capital, Rights of Shareholder, variation of these rights, payment of underwriting commission.
  2. Lien on Shares
  3. Transfer of Shares
  4. Transmission of Capital
  5. Forfeiture of Shares
  6. Calls on Shares
  7. Conversion of shares into stocks
  8. Share Warrant
  9. Alteration of Share Capital
  10. General Meeting and Proceeding thereat
  11. Voting right of members, voting and poll proxies
  12. Directors, their appointment, remunerations, qualification, powers and proceedings of the Board of Directors.
  13. Manager
  14. Secretary
  15. Dividend and Reserve
  16. Accounts, audit and borrowing powers
  17. Capitalisation of profits
  18. Winding up.

             Incase a company desires its shares to be listed in the stock exchange; it must consider the requirements of the stock exchange while framing its Articles of Association.