The Articles of Association are a document that sets out the basic rules and regulations of a company, as well as the procedures and principles for the internal management and operation of the company. It is one of the statutory documents of a company that is usually drafted and approved by the company’s founders or shareholders to ensure the company’s legitimacy and compliance.
Articles of Association typically include the following:
- The company’s name, registered address, and scope of business.
- The purpose and scope of the company’s business.
- The organizational structure and management hierarchy of the company.
- The rights and obligations of shareholders, including the voting rights of shareholders and the distribution of dividends.
- Duties and powers of the Board of Directors.
- Rules and regulations for corporate governance and internal control.
- Rules and regulations for corporate finance and accounting.
- Rules for the trading and transfer of shares of a company.
- Rules and procedures for the dissolution and liquidation of a company.
The Articles of Association are one of the important legal documents of a company, and a company must comply with all the rules and regulations set forth in the Articles of Association. If a company needs to change any of the rules or regulations in its bylaws, it usually requires the approval of a general meeting of shareholders and the amendment is made in accordance with local legal procedures.
