The Articles of Association are the rules for the management of the internal affairs of a company. The articles define the duties, rights and power of the officer and director of the company.
Contents of the Articles of Association (It is not an exhaustive but illustrative list)
- The amount of share capital and different types of shares.
- Rights of each class of shareholder.
- Procedure for making allotment of shares.
- Procedure for issuing share certificates.
- Procedure for forfeiture and reissue of share.
- Procedure for conducting, voting and proxy.
- Procedure for appointment of director.
- Procedure for declaration of dividend.
- Procedure for alteration of share capital.
- Procedure regarding winding up of the company.
