What is memorandum and articles of association are described in detail one by one?
Memorandum and Articles of Association
Memorandum of Association (M/A)
The act defines Memorandum of Association to mean the Memorandum of Association of a company as originally framed or as altered in pursuance of the provisions of the act.
It is the main document of the Joint Stock Company. It mainly includes name, address, purpose, capital, liability, etc.
Articles of Association (A/A)
The Articles of Association indicate how the company is operated and maintained. It is the regulations or bye-laws for carrying into effect the objectives defined in its Memorandum of Association and for the management of its internal affairs.
The articles mean the articles of association of a company as originally framed and as altered by special resolution.
Other Content of Articles of Association: