Q.State the main contents typically covered in the Articles of Association of a company limited by shares.

Because the Articles govern everything about a company's internal working, they tend to be lengthy, but their content follows a fairly predictable pattern across companies.

The Articles of a company limited by shares are detailed documents, but their subject matter falls into a fairly standard set of heads, closely following the structure Table F itself uses under Schedule I of the Companies Act, 2013.

First, matters relating to share capital: the classes of shares the company may issue and the rights attached to each, and the procedure for varying those class rights under Section 48. Second, matters relating to individual shares: the issue of share certificates, the lien the company may hold over partly-paid shares for unpaid calls, the making of calls and the consequences of default, the procedure for transfer and transmission of shares, and forfeiture of shares where a call remains unpaid despite due notice. Third, matters relating to capital structure: alteration of share capital by sub-division, consolidation, or conversion into stock, buy-back of the company's own shares, and capitalisation of profits through the issue of bonus shares, where the company intends to use these routes. …

Students sometimes list the Memorandum's contents (name, objects, capital clause) instead of the Articles' own int …