Articles of Association is a document which contains rules and regulations that governs the internal management.
The following are the four contents of Articles of Association:
- Share capital – Shares and their value and their division into different types of shares.
- Rights of each class of shareholders and procedure for variation of their rights.
- Procedure relating to allotment of shares, making of calls and forfeiture of shares.
- Rules relating to transfer and transmission of shares and the procedure to be followed.
