Friday, October 28, 2016
Friday, October 21, 2016
Unlike in case of Memorandum of Association (MOA), registration of the Articles of Association (AOA) is a non-binding requirement for a company. Section 5 of the Companies Act 2013 provides that the Articles of a company are to contain the rules and regulations for management. Accordingly, the MOA deals with the powers and limitations of the company, while the AOA deals with the powers/limitations of the management personnel. As mentioned, registration of the Articles is optional.
Sunday, October 16, 2016
The Memorandum of Association (MOA) is a registered document containing all the legal data essentially required for the incorporation of a company and available to the public. Section 4 of the Companies Act 2013 describes the 5 clauses that must be included in the document. The preparation of a Memorandum is a legal requirement for limited liability companies only.