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11th Class Business Studies Forms Of Business Organisation Question Bank Forms Of Business Organisation (Short)

  • question_answer
    Define Articles of Association. What are its contents?

    Answer:

    Ans.     The Articles of Association are the rules for the management of the internal affairs of a company. The articles define the duties, rights and power of the officer and director of the company.
    Contents of the Articles of Association (It is not an exhaustive but illustrative list)
    1. The amount of share capital and different types of shares.
    2. Rights of each class of shareholder.
    3. Procedure for making allotment of shares.
    4. Procedure for issuing share certificates.
    5. Procedure for forfeiture and reissue of share.
    6. Procedure for conducting, voting and proxy.
    7. Procedure for appointment of director.
    8. Procedure for declaration of dividend.
    9. Procedure for alteration of share capital.
    10. Procedure regarding winding-up of the company.


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