Week 11 - Articles of Association

Question 1

What are articles of association?

Answer 1

Documents laying out the rules of a company

Question 2

Who do articles of association bind?

Answer 2

Both the company and its members

Question 3

When would model articles be needed?

Answer 3

If you don’t set up any articles and you’re forming a partnership - prescribed by regulation

Question 4

What does it include?

Answer 4

Objects of the company - it’s constititution - how it will governed, what are the internal affairs etc

Question 5

Articles of association contains rules governing the internal conduct of the company’s business, such as:
(first 3)

Answer 5

• number of directors
• how they will be appointed
• powers of directors

Question 6

Articles of association contains rules governing the internal conduct of the company’s business, such as:
(final 2)

Answer 6

• procedures for calling meetings
• voting rights of members etc

Question 7

How may articles be altered?

Answer 7

By special resolution

Question 8

How much percentage for a special resolution?

Answer 8

75%

Question 9

What do the articles represent?

Answer 9

Contractual terms between the company and its members