What is Articles of Association of Company What are the requirement under section 5 of Indian Companies Act 2013 in case of Articles of a Company How to prepare Articles of a Company

 

Section 5 Articles of Association of Company - Indian Companies Act 2013

As per Section 5 of Indian Companies Act 2013 Articles of a Company may be prepared in the prescribed format. Provision in the Indian Companies Act 2013 regarding Articles of Association of Company is as under.


 

(1) The articles of a company shall contain the regulations for management of the company.


(2) The articles shall also contain such matters, as may be prescribed:
Provided that nothing prescribed in this sub-section shall be deemed to prevent a company from including such additional matters in its articles as may be considered necessary for its management.


(3) The articles may contain provisions for entrenchment to the effect that specified provisions of the articles may be altered only if conditions or procedures as that are more restrictive than those applicable in the case of a special resolution, are met or complied with.


(4) The provisions for entrenchment referred to in sub-section (3) shall only be made either on formation of a company, or by an amendment in the articles agreed to by all the members of the company in the case of a private company and by a special resolution in the case of a public company.


(5) Where the articles contain provisions for entrenchment, whether made on formation or by amendment, the company shall give notice to the Registrar of such provisions in such form and manner as may be prescribed.


(6) The articles of a company shall be in respective forms specified in Tables, F, G, H, I and J in Schedule I as may be applicable to such company.


(7) A company may adopt all or any of the regulations contained in the model articles applicable to such company.


(8) In case of any company, which is registered after the commencement of this Act, in so far as the registered articles of such company do not exclude or modify the regulations contained in the model articles applicable to such company, those regulations shall, so far as applicable, be the regulations of that company in the same manner and to the extent as if they were contained in the duly registered articles of the company.


(9) Nothing in this section shall apply to the articles of a company registered under any previous company law unless amended under this Act.

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