What is Company Constitution
Company Constitution or formerly knows as Memorandum and Articles of Association is a set of legal documents sated clearly rule and regulation how to run the company
And it is a MUST documents during incorporation with ACRA
WHAT INFORMATION CONTAINED IN COMPANY CONSTITUTION
- Liability of members;
- Directors’ powers and responsibilities;
- Directors’ meetings, voting, delegation to others and conflicts of interest;
- Retaining records of directors’ decisions;
- Appointment and removal of directors;
- number of issuing shares ;
- share transfer ;
- different share classes and their particulars;
- Dividends and other distributions to members;
- Members’ decision making and attendance at general meetings;
- Means of communication;
- Use of the company seal, if applicable; and
- Directors’ indemnity and insurance.
- WHERE WE CAN HAVE SAMPLE OF COMPANY CONSTITUTION ?
You may visit ACRA website for the sample of constitution
- CAN WE AMEND THE COMPANY CONSTITUTION ?
Yes, Constitution can be amended any time with the approval of company’s shareholders.
Related Article ; What is Shareholder Agreement