When someone found a company two important documents Memorandum of Association and Articles of Association are always there. Have a look MOA vs AOA!
Difference between MOA and AOA
The fundamental points of distinction between MOA and AOA are as follows:
|BASIS FOR COMPARISON
|MEMORANDUM OF ASSOCIATION
|ARTICLES OF ASSOCIATION
|Memorandum of Association (MOA) is a document that contains all the fundamental data which are required for the company incorporation.
|Articles of Association (AOA) is a document containing all the rules and regulations that govern the company
|MOA must be registered at the time of incorporation.
|The articles may or may not be registered.
|The Memorandum is the charter, which characterizes and limits powers and constraints of the organization.
|The articles demonstrate obligations, rights, and powers of individuals, who are endowed with the responsibility of running the organization and administration.
|It is subordinate to the memorandum.
|The memorandum cannot give the company power to do anything opposed to the provision of the companies act.
|The articles are constrained by the act, but they are also subsidiary to the memorandum and cannot exceed the powers contained therein.
|A memorandum must contain six clauses.
|The articles can be drafted according to the decision of the Company.
|The memorandum contains the objectives and powers of the company.
|The articles provide the regulations by which those objectives and powers are to be conveyed into impact.
|The memorandum is the dominant instrument and controls articles.
|Any provision, as opposed to a memorandum of association, is invalid.
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