Question
Assignment Question An important step to the formation of a company is to prepare a document called the Articles of Association. It has been stated
Assignment Question
An important step to the formation of a company is to prepare a document called the Articles of
Association. It has been stated in Section 46 (2) of the Companies Act 2015 as, "A Company
must adopt Articles of Association under which the internal management of a Company is
governed."
Therefore, you are required to write an essay highlighting the following:
Explain the objectives and importance of Articles of Association.
Critically evaluate any five (5) items this document includes and their relevance to the
operation of companies. (Hint: for selecting any five of these items, refer to schedule 2 of
the Companies Act 2015. Also refer to Appendix A as shown below).
Critically evaluate the rules applied in respect to adopting new Articles of Association or
modifying existing Articles of Association as per the Companies Act of Fiji 2015.
Conclude by stating the benefits and drawbacks of using this document and its usefulness
(if any) to govern the operations of a company.
Appendix A
OFFICERS AND EMPLOYEES
APPOINTMENT AND REMOVAL OF DIRECTORS
SECRETARY
DIRECTORS' MEETINGS
POWERS AND DUTIES OF DIRECTORS
MEETINGS OF MEMBERS
VOTES OF MEMBERS
WRITTEN RESOLUTIONS
SHARES
DIVIDENDS
3 | P a g e
CALLS
LIEN AND FORFEITURE
TRANSFER OF SHARES
TRANSMISSION OF SHARES
INSPECTION OF BOOKS
AUDIT AND ACCOUNTS
WINDING UP
COMPANIES LIMITED BY GUARANTEE
UNLIMITED LIABILITY COMPANIES
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