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Articles of Association

The Articles of Association of a company contain the rules and regulations relating to the management of its internal affairs. They define the rights, powers and duties of the management, the mode and form in which the business of the company is to be carried on and the manner in which changed in the internal regulations of the company may be made from time to time. Articles lay down the relations between he company and its members and between the members and members.

Contents of Articles of Association

1.    The amount of share capital and its division into different types of shares.
2.    Procedure of increasing, reducing or altering the share capital.
3.    Rules and regulations regarding conversion of fully paid shares into stock.
4.    Procedure of holding and conducting company meetings.
5.    Rules regarding voting rights of the members.
6.    Matters relating to appointment, remuneration powers, duties and qualifications of Directors, 
       Managers, Secretary and Auditors, etc.
7.    Interest rates on calls-in-advance and calls-in-arrears.
8.    Rules regarding use and custody of common seal.
9.    Rules regarding declaration f dividend and its payment.
10.   Rules regarding maintenance of accounts and audit.
11.   Charging of depreciation and creation of reserves, etc.
12.   Methods of raising loans.
13.   Borrowing powers of directions.
14.   Rules regarding winding up of the company.

Articles of Association should be duly printed, and divided into paragraphs. All those who have signed the Memorandum of Association should also put their signatures, names, addresses, occupations, etc. on the Articles of Association.

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