Article Of Association
Introduction
The articles of association of a company are its bye-laws or rules and regulations that govern the management of its internal affairs and the conduct of its business.
According to 2(2) of act, 'articles' means articles of association of a company as originally framed or as altered from time to time in pursuance of any company law or of the present act of 1956.
Thus, the articles regulate the internal management of the company. They define the power of its officers. They also establish a contract between the company and the members and between the members' interest. This contract governs the ordinary rights and obligations incidental to the membership in the company.
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