Alteration of AOA(Article of Association)
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Articles of Association (AOA) describes the rules and regulations for the internal management of the company.
Articles of Association has to be carefully drafted at the time of Company Registration considering the The provisions of the articles are binding on the members as well as the company. The AOA should always be in harmony with the MOA of the company, meaning which the Articles cannot prescribe rules, which is beyond the powers mentioned in the Memorandum.
Articles of Association generally prescribes the relation between shareholders and Board of Directors, relation among shareholders and Directors themselves.
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