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Common Components of the Articles of Association Company name and form of business. Purpose of the company. Capital structure. Corporate governance. Administration of corporate records.
The full articles of association should cover: The powers, responsibilities, indemnity and insurance of the directors. Details of how directors hold meetings, vote, delegate and handle conflicts of interest. How directors are appointed and removed. How records of directors' decisions will be recorded. Liability of members.
The Articles of Association are a company's internal rulebook and set out how the business is run and how decisions are made. The Articles set out how tasks need to be accomplished within the organisation, including the process for appointing directors and the handling of financial records.
I/WE, the undersigned whose name(s), address(es) and description(s) is/are given below, wish to form a company, in pursuance of this memorandum of association, and I/we respectively agree to take the number of share(s) in the capital of the company set opposite my/our respective name(s).