Aoa
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2012
What is AOA ?
11 December 2012
AOA means articles of assosiation. It is the Constitution of a co and contains all the powers and duties etc of the company.
11 December 2012
Hi
There are two important documents in relation to every company, defining its basic features and internal regulations, which are Memorandum of Association and Articles of Association. The Articles of Association is subordinate to the Memorandum of Association and is a public document. The Articles of Association of a company lays down the rules and regulations for the company's internal management, which provides powers to the company for its management by the Board and authority of the members to regulate the conduct of the company. It establishes a contract between the company and its members and between the members inter se. This contract governs the ordinary rights and obligations incidental to membership in the company. The Articles of Association of the company are 'not law' and do not have the force of law.
Section 2(2) of the Companies Act, 1956 provides that "articles" means Articles of Association of the company as originally framed or as altered from time to time in pursuance of any previous companies law or of this Act, including, so far as they apply to the company, the regulations contained, as the case may be, in Table B in the Schedule annexed to Act No. 19 of 1857 or in Table A in the First Schedule annexed to the Indian Companies Act, 1882 (6 of 1882), or in Table A in the First Schedule annexed to the Companies Act, 1913 (7 of 1913) or in Table A in Schedule I annexed to this Act.
Articles of association are regulations of the company binding on the company and on its shareholders. [V.B. Rangaraj v V.B. Gopalakrishnan (1992) 73 Comp Cas 201 (SC)].
The articles of association merely govern the internal management, business or administration of a company. They may be binding between the persons affected by them but they do not have the force of statute. [Irrigation Development Employees' Association v Government of Andhra Pradesh (2005) 55 SCL 459 (AP)].
There are two important documents in relation to every company, defining its basic features and internal regulations, which are Memorandum of Association and Articles of Association. The Articles of Association is subordinate to the Memorandum of Association and is a public document. The Articles of Association of a company lays down the rules and regulations for the company's internal management, which provides powers to the company for its management by the Board and authority of the members to regulate the conduct of the company. It establishes a contract between the company and its members and between the members inter se. This contract governs the ordinary rights and obligations incidental to membership in the company. The Articles of Association of the company are 'not law' and do not have the force of law.
Section 2(2) of the Companies Act, 1956 provides that "articles" means Articles of Association of the company as originally framed or as altered from time to time in pursuance of any previous companies law or of this Act, including, so far as they apply to the company, the regulations contained, as the case may be, in Table B in the Schedule annexed to Act No. 19 of 1857 or in Table A in the First Schedule annexed to the Indian Companies Act, 1882 (6 of 1882), or in Table A in the First Schedule annexed to the Companies Act, 1913 (7 of 1913) or in Table A in Schedule I annexed to this Act.
Articles of association are regulations of the company binding on the company and on its shareholders. [V.B. Rangaraj v V.B. Gopalakrishnan (1992) 73 Comp Cas 201 (SC)].
The articles of association merely govern the internal management, business or administration of a company. They may be binding between the persons affected by them but they do not have the force of statute. [Irrigation Development Employees' Association v Government of Andhra Pradesh (2005) 55 SCL 459 (AP)].
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
