Question

Every company has it's own Articles of Association.

• A. True
• B. False

Answer 1

The correct option is B False

(i) Articles of Association states the rules and regulations of a company.

(ii) It is framed for internal management of the company.

(iii) It deals with the rights of the members of company.

(iv) Articles are subordinate to the Memorandum of Association.

(v) It states the relationship between the company and its members, staff, etc. (vi) Articles of Association defines how the business of the company should be carried on.

(vii) Articles of Association are governed by Memorandum of Association.

(viii) The Articles of Association being an important document is required to be filed with the Registrar of Companies.

(ix) The preparation and filing of Articles of Association is compulsory in case of Private Limited Company by guarantee and an Unlimited Company.