Can anyone please explain this section?
Effect of memorandum and articles.
(1) Subject to the provisions of this Act, the memorandum and articles shall, when registered, bind the company and the members thereof to the same extent as if they respectively had been signed by the company and by each member, and contained covenants on its and his part to observe all the provisions of the memorandum and of the articles.
1 Replies
Chirag
(Professional)
(1979 Points)
Replied 30 October 2020
In general sense you can understand that once MOA and AOA registered then members and company are obliged to follow them ,subject to Provision of companies act ( MOA/AOA can't override companies act and relevant rules ),and it's assumed that anyone who become member of the company after incorporation is bounded to follow it. (unless otherwise modified as per extant provision of the act).
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