Article of Association Definition and Its Contents

Articles of Association:

It is second important document of the company, which include the rules and regulations necessary to run the company and to govern the internal organization. ”

Contents

1. Capital and its division into shares.
2. Different types of shares.
3. Value of shares and their transfer.
4. Method for the change in capital.
5. Rights of shareholders.
6. Conversion of shares into stock.
7. Name and number of directors.
8. Powers and duties of directors.
9. Appointment of directors.
10. Directors’ meeting.
11. Methods to call the meetings.
12. Voting powers of shareholders.
13. Accounts and their audit.
14. Appointment of auditors, their rights and duties.
15. Distribution of profit and reserve capital.
16. Method of selling shares.
17. Seal of company.
18. Right, duties and remuneration of managing agents.