difference between memorandum of association and article of association. . don't smap.
Answers
it is actually too long but I hope it would help you
Defination
memorandum of association
. Memorandum of.
Association is a.
document that
contains all the
fundamental
information which are
required for the
incorporation of the
company.
article of association
. Articles of Association is a document containing all the rules and regulations that governs the company.
Defined in
memorandum of association
Section 2 (56)
article of association
Section 2 (5)
Type of Information contained
memorandum of association
Powers and objects of the company.
article of association
Rules of the company.
It is subordinate to
memorandum of association
.the Companies Act.
article of association
. memorandum.
Retrospective Effect
memorandum of association
The memorandum of association of the company cannot be amended retrospectively.
article of association
The articles of association can be amended retrospectively.
Major contents
memorandum of association
A memorandum must contain six clauses.
article of association
The articles can be drafted as per the choice of the company.
Obligatory
memorandum of association
Yes, for all companies.
article of association
A public company limited by shares can adopt Table A in place of articles.
Compulsory filing at the time of Registration
memorandum of association
Required
article of association
Not required at all.
Alteration
memorandum of association
Alteration can be done, after passing Special Resolution (SR) in Annual General Meeting (AGM) and previous approval of Central Government (CG) or Company Law Board (CLB) is required.
article of association
Alteration can be done in the Articles by passing Special Resolution (SR) at Annual General Meeting (AGM)
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Answer:
The memorandum of association and articles of association are the two charter documents, for setting up of the company and its operations thereon. ‘Memorandum of Association‘ abbreviated as MOA, is the root document of the company, which contains all the basic details about the company. On the other hand, ‘Articles of Association‘ shortly known as AOA, is a document containing all the rules and regulations designed by the company.
Explanation:
The major differences between memorandum of association and articles of association are given as under:
Memorandum of Association is a document that contains all the condition which are required for the registration of the company. Articles of Association is a document that contains the rules and regulation for the administration of the company.
Memorandum of Association is defined in section 2 (56) while the Articles of Association is defined in section 2 (5) of the Indian Companies Act 1956.
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