What mandatory articles are required to be included in the Articles of Association of companies?

img_4797The Articles of Association must include the following mandatory articles:-

The company name (section 81),the articles of a limited company must state that the liability of its members is limited (section 83(1)),the articles of an unlimited company must state that the liability of its members is unlimited (section 83(2)),the articles of a company limited by shares must state that the liability of its members is limited to any amount unpaid on shares held by the members (section 84(1)),the articles of a company limited by guarantee must state that each person who is a member of the company undertakes that if the company is wound up while the person is a member, or within one year after ceasing to be a member, that the person will contribute an amount required, not exceeding a specified amount, to the company’s assets ( section 84(2)),

The articles of a company with a share capital must state the capital and initial shareholdings (section 85(1) and section 8 of Part 5 of Schedule 2); and the articles of an association to be incorporated with a licence granted under section 103, or of a company with such a licence must state the company’s objects whilst the licence remains in force (section 82(1)). (Note: For any other company, it is not mandatory to state its objects in its Articles of Association but it may do so (section 82(2)).

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