Outline the distinctions between the memorandum and articles of association.

Memorandum of Association Articles of association
–  This is the company‟s charter of external

constitution.

–  This is the internal constitution of the company.
–  It regulates the relations between the company and third parties. –  It regulates the relations between the company and its members.
–  Its  contents  are prescribed by       the provisions of the Companies Act. –  Its contents are agreed upon members.
–  It is the principal or primary document. –  It is subordinate to the memorandum.
– Contents include name, domicil, objects capital, association date, particulars of subscribers. –  Contents include borrowing dividend, voting, meetings, Lien on shares, forfeiture of shares, capital company

secretary.

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