Companies Constitution

What does the Memorandum of Association (MOA) outline?

• Shareholder voting rights

• Company's internal regulations

• Essential company features

• Director's responsibilities

Which document governs the relationships among a company's members?

• Shareholder Agreement

• Company Act

• Memorandum of Association

• Articles of Association

What is the effect of the ultra vires doctrine?

• It simplifies the process of company formation

• It mandates annual audits

• It restricts corporate actions to those within the company's stated objectives

• It allows companies to exceed their stated objectives

What must companies limited by guarantee have according to the Companies Act 2016?

• A shareholder agreement

• A Memorandum of Association

• A constitution

• An Articles of Association

What happens if a company does not have a constitution?

• It must create a new constitution

• It cannot operate legally

• It defaults to the Companies Act 2016

• It is automatically dissolved

What is the significance of the Articles of Association (AA)?

• They govern the company's relationships with its members

• They specify the company's tax obligations

• They outline the company's financial obligations

• They define the company's market strategy

What is the legal implication of the ultra vires doctrine?

• It voids actions exceeding the company's stated objectives

• It mandates regular updates to the constitution

• It allows companies to operate without restrictions

• It simplifies the process of company registration

What is required for altering a company's constitution?

• Approval from the government

• A special resolution

• A simple majority vote

• A public consultation

What does the term 'ultra vires' mean?

• Corporate governance

• Legal authority

• Beyond the powers

• Within the powers

What is the role of the Memorandum of Association in a company?

• To manage shareholder relations

• To outline the company's internal rules

• To define the company's objectives and scope

• To regulate employee conduct