Memorandum of Association and Articles of Association

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  • Topic: Corporation, United Kingdom company law, Registrar of Companies
  • Pages : 3 (899 words )
  • Download(s) : 311
  • Published : November 16, 2011
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Law MA & AA

1.0 Introduction
It is defined in Section 33(1) Companies Act 1965 that the Memorandum of Association and Articles of Association of a company shall, when registered, bind the company and the members of the same extend as if they respectively had been signed and sealed by each member, and contained governance on the part of each member to observe all the provisions of the memorandum and of the articles . So, it is required for all the members in the company to follow the content stated in Memorandum of Association and Articles of Associations upon register in the Registrar of Company. 2.0 Definition and Functions of Memorandum of Association (MA) First of all, Memorandum of Association (MA) is a fundamental document of company which distinguishes relationship between the company and outsider as well as the members. Each company is required on formation of company to register with the Registrar of Companies (ROC) and lodge their MA upon incorporation. A MA gives details on the capacity of a business, type of businesses involve and the power of directors that the company held into. In section 16(1) of the Companies Act (CA) that a company should have the name of the company under section 18(1) (a), objects and powers under section 18(1) (b), share capital under section 18(1) (c) and other details such as the subscriber name, personal details, company addresses which require under section 18(2) . It must have at least 2 subscribers to form the company and signature to be attested in the MA by the members. Basically, MA main function is to define the extent of the activities and businesses of a company can go into and the object clause that administer the regular functioning of a company. Besides that, company addresses should be valid for easy communication with the Companies House due to notification, summons and other information will be delivered to the company as the address stated in the Companies House. It is vital that...
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