3. Pursuant to Article 101 of the Companies Act 2013, the third stage requires the proposal to amend the articles of association at the extraordinary general meeting. As already mentioned, this proposal must be approved by a special majority of members. The company`s AOA should be in the format prescribed in tables F to J that may apply to the business. A company must register its articles of association at the time of incorporation of the company. A company may, after its incorporation, amend its articles of association which is necessary for its management. The content of the articles of association must not conflict with the Companies Act and the Memorandum of Understanding. If the document contains something that violates the Companies Act or Articles of Association, it is ineffective. PVT groups, which are limited by shares and those with limited liability and unlimited liability, must have their statutes. Public companies may not have their articles of association, but may adopt standard articles listed in Table A of Schedule I to the Companies Act 1956.
If a public limited company has only a few statutes of its own, the statutes in Table A.4 apply otherwise. If the proposed amendment is approved, section 117 of the Companies Act 2013 must be complied with. The fourth step requires that, within 30 days of the adoption of the special resolution, a copy of the amended Agreement on Agriculture be submitted to the Commercial Register with the following documents: Articles that are deep to be registered should be printed, well segmented and sequenced. Each signatory of the statutes must sign the statutes in the presence of at least one witness. To obtain the registration of a company, an application must be filed with the Commercial Register. The application must be accompanied by the following documents: 1. Statutes 2. Statutes, if necessary and 3. The agreement, if any, that the Corporation intends to enter into with a person for appointment as a full-time or executive director or manager. The articles of association of a company are its articles of association or internal regulations, which govern the management of its internal affairs and the conduct of its affairs. They are designed to achieve the aims and objectives set out in the statutes. Under section 2(2) of the Companies Act 1956, the term „articles of association“ means the articles of association of a company, as originally amended or amended from time to time, under the previous Companies Acts or under this Act, i.e.
the 1956 Act. The articles of association govern the internal management of the company. They define the powers of their officers. In Naresh Chandra Sanyal v. Calcutta Stock Exchange Association Ltd (AIR 1971 SC 422), the Supreme Court stated that the articles of association also create a contract between the company and the members and between the members themselves. This Agreement governs the ordinary rights and obligations associated with membership in the Company. Articles are like the act of partnership in a partnership. They contain provisions on how the company is to be managed. They regulate, inter alia, matters such as the filing of appeals, the expiry of shares, the qualification of directors, the appointment, powers and duties of auditors, the procedure for the transfer and transfer of shares and debt obligations. 1.2. Content of the statutes As a general rule, the statutes contain provisions on the following matters: 1.
Share capital, including subdivision, the rights of the various shareholders, the ratio of these rights, the payment of commissions, share certificates, 2. Share Lien 3. Calls for action 4. Transfer of shares 5. Transfer of shares 6. Expiry of shares 7. Disposal of shares 8. Conversion of shares into shares 9. Warrant 10. Change of capital 11. General meetings and deliberations 12. Voting rights of members, Voting by vote, proxies 13.
Directors, including the first directors or lifetime directors, their appointment, remuneration, qualifications, powers and the conduct of meetings of the board of directors 14. Dividends and reserves 15. Accounting and auditing 16. Borrowing authority 17. Rules of Procedure The greatest care must be taken in the preparation of the articles of association of the proposed company. These are certain matters in respect of which the company may exercise powers only if and in the manner provided for in the articles of association.