Which of the followng companies can adopt table a in place of article of association in hindi?
Answers
Answered by
0
In corporate governance, a company's articles of association (AoA, called articles of incorporation in some jurisdictions) is a document which, along with the memorandum of association (in cases where the memorandum exists) form the company's constitution, defines the responsibilities of the directors, the kind of business to be undertaken, and the means by which the shareholders exert control over the board of directors.
For the articles adopted by the First Continental Congress in 1774, see Continental Association.
Overview
A company is an incorporated body so there should be some rules and regulations formed for the management of its internal affairs and conduct of its business as well as the relation between the members and the company. Moreover, the rights and duties of its members and the company are to be recorded. This is why Articles of Association are necessary. The Articles of Association is a document that contains the purpose of the company as well as the duties and responsibilities of its members defined and recorded clearly. It is an important document which needs to be filed with the Registrar of Companies.
Other countries
The term articles of association of a company, or articles of incorporation, of an American or Canadian Company, are often simply referred to as articles (and are often capitalized as an abbreviation for the full term). The Articles are a requirement for the establishment of a company under the law of India, the United Kingdom, Nigeria, Pakistanand many other countries. Together with the memorandum of association, they are the constitution of a company. The equivalent term for LLC is Articles of Organization. Roughly equivalent terms operate in other countries, such as Gesellschaftsvertrag in Germany, statuts in France, statut in Poland,Ukrainian: статут (Latin: statut) in Ukraine, Jeong-gwan in South Korea.
In South Africa, from the new Companies Act 2008 which commenced in 2011, articles and memoranda of association have been replaced by a "memorandum of incorporation" or "MOI". The MOI gives considerably more scope to vary how to the company is governed than the previous arrangement.
Contents
The following is largely based on British Company Law, references which are made at the end of this Article.
The Articles can cover a medley of topics, not all of which is required in a country's law. Although all terms are not discussed, they may cover:
The issuing of shares (also called stock), different voting rights attached to different classes of sharesValuation of intellectual rights, say, the valuations of the IPR of one partner and, in a similar way as how we value real estate of another partnerThe appointments of directors - which shows whether a shareholder dominates or shares equality with all of the contributorsDirectors meetings - the quorum and percentage of voteManagement decisions - whether the board manages or a founderTransferability of shares - assignment rights of the founders or other members of the company doSpecial voting rights of a Chairman, and his/her mode of electionThe dividend policy - a percentage of profits to be declared when there is profit or otherwiseWinding up - the conditions, notice to membersConfidentiality of know-how and the founders' agreement and penalties for disclosureFirst right of refusal - purchase rights and counter-bid by a founder
Directors
A Company is essentially run by the shareholders, but for convenience, and day-to-day working, by the elected Directors. Usually, the shareholders elect a Board of Directors(BOD) at the Annual General Meeting (AGM), which may be statutory (e.g. India).
The number of Directors depends on the size of the Company and statutory requirements. The Chairperson is generally a well-known outsider but he /she may be a working Executive of the company, typically of an American Company. The Directors may, or may not, be employees of the Company.
Shareholders
In the emerging countries there are usually some major shareholders who come together to form the company. Each usually has the right to nominate, without objection of the other, a certain number of Directors who become nominees for the election by the shareholder body at the AGM. The Treasurer and Chairperson is usually the privilege of one of the JV partners (which nomination can be shared). Shareholders may also elect Independent Directors (from the public). The Chair would be a person not associated with the promoters of the company, a person is generally a well-known outsider. Once elected, the BOD manages the Company. The shareholders play no part till the next AGM/EGM.
For the articles adopted by the First Continental Congress in 1774, see Continental Association.
Overview
A company is an incorporated body so there should be some rules and regulations formed for the management of its internal affairs and conduct of its business as well as the relation between the members and the company. Moreover, the rights and duties of its members and the company are to be recorded. This is why Articles of Association are necessary. The Articles of Association is a document that contains the purpose of the company as well as the duties and responsibilities of its members defined and recorded clearly. It is an important document which needs to be filed with the Registrar of Companies.
Other countries
The term articles of association of a company, or articles of incorporation, of an American or Canadian Company, are often simply referred to as articles (and are often capitalized as an abbreviation for the full term). The Articles are a requirement for the establishment of a company under the law of India, the United Kingdom, Nigeria, Pakistanand many other countries. Together with the memorandum of association, they are the constitution of a company. The equivalent term for LLC is Articles of Organization. Roughly equivalent terms operate in other countries, such as Gesellschaftsvertrag in Germany, statuts in France, statut in Poland,Ukrainian: статут (Latin: statut) in Ukraine, Jeong-gwan in South Korea.
In South Africa, from the new Companies Act 2008 which commenced in 2011, articles and memoranda of association have been replaced by a "memorandum of incorporation" or "MOI". The MOI gives considerably more scope to vary how to the company is governed than the previous arrangement.
Contents
The following is largely based on British Company Law, references which are made at the end of this Article.
The Articles can cover a medley of topics, not all of which is required in a country's law. Although all terms are not discussed, they may cover:
The issuing of shares (also called stock), different voting rights attached to different classes of sharesValuation of intellectual rights, say, the valuations of the IPR of one partner and, in a similar way as how we value real estate of another partnerThe appointments of directors - which shows whether a shareholder dominates or shares equality with all of the contributorsDirectors meetings - the quorum and percentage of voteManagement decisions - whether the board manages or a founderTransferability of shares - assignment rights of the founders or other members of the company doSpecial voting rights of a Chairman, and his/her mode of electionThe dividend policy - a percentage of profits to be declared when there is profit or otherwiseWinding up - the conditions, notice to membersConfidentiality of know-how and the founders' agreement and penalties for disclosureFirst right of refusal - purchase rights and counter-bid by a founder
Directors
A Company is essentially run by the shareholders, but for convenience, and day-to-day working, by the elected Directors. Usually, the shareholders elect a Board of Directors(BOD) at the Annual General Meeting (AGM), which may be statutory (e.g. India).
The number of Directors depends on the size of the Company and statutory requirements. The Chairperson is generally a well-known outsider but he /she may be a working Executive of the company, typically of an American Company. The Directors may, or may not, be employees of the Company.
Shareholders
In the emerging countries there are usually some major shareholders who come together to form the company. Each usually has the right to nominate, without objection of the other, a certain number of Directors who become nominees for the election by the shareholder body at the AGM. The Treasurer and Chairperson is usually the privilege of one of the JV partners (which nomination can be shared). Shareholders may also elect Independent Directors (from the public). The Chair would be a person not associated with the promoters of the company, a person is generally a well-known outsider. Once elected, the BOD manages the Company. The shareholders play no part till the next AGM/EGM.
Similar questions