Q: What do you understand by Articles of Association?
Ans: Articles of Association is the series of piles and regulations according to which the company runs its business. These articles, creating relationship between the company and its members (share holders), determine their rights and obligations.
The matters which are included in these articles also include the appointment of directors and their powers, rights of availing credit by the directors, rights pertaining to the different kinds of shares, issue of shares and share certificates, meetings of share holders and directors and the rights to votes of the share holders. These articles should not in contradiction of the Memorandum of Association of the company.