Memorandum and Articles of Association
A memorandum of association is issued as part of the company formation process. This document is effectively the company's lists of rules and regulations by which it will be governed.
The Memorandum of Association will contain the following information:
- The location of the company's registered office.
- The purpose of the company
- Details of the available share capital can be issued by the company
- A statement describing the liability of the shareholders or members and any limits thereon.
- If the company is a PLC then a clear statement to that effect.
Articles of Association
Articles of association set out the rules for how the directors of the company may run the company. There are a series of standard articles of association recognised under UK companies law and Table A is commonly used for limited companies.
Table A sets out rules on a broad range of internal activities, including relating to the conduct of general meetings, powers of directors, shares, minutes of meetings, procedures for paying dividends and generally how the company should properly conduct its administrative tasks.
Companies may alter these documents to suit their own particular methods and procedures which they intend to adopt. In general however the documents are often left untouched as they contain broad provisions and offer appropriate guidance for companies in how to conduct their affairs.
Companies Made Simple use Table A memorandum and articles of association in their UK Company Formations.
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