There are two legal documents that are required for the application for a company’s incorporation. These are the Articles of Association and the Memorandum of Association. Such documents need to be submitted as they have all official members or subscribers of the company. They also have the company’s constitution which serves as its basis of operation.
The two documents also hold information on details which should explain the various procedures the company has in terms of appointment of officers, issuance of shares, officers’ resignation, the convening of meetings, and all other procedures done by the secretary.
Read on to understand more about these documents.
Memorandum of Association: What is this?
This document needs to include important information upon submission. These include:
- The location of the registered office of the company
- The purpose of the company
- All of the details of the company’s share capital which is available for issuance
- The liabilities of members or shareholders of the company and the description of these liabilities and their limits
Companies that register online do not need to have a Memorandum of Association as this is automatically done upon registering online.
Articles of Association: What is it?
The Articles of Association is a document where information can be found on the rules of how a company’s directors can run it. Under the United Kingdom’s Companies Law, there are different Articles of Association that are recognized. Limited companies can use Table A which comes with its own set of rules on the different internal activities of a company. Such activities include how to properly conduct any general meeting, the directors’ power, company shares, minutes of meetings, any procedures needed to be followed for payment of dividends, and general processes needed to be followed when doing admin tasks.
How should these documents be submitted?
These documents are important and should be included during application for new company formation. There are companies that can help with that like Company Address, a registered formations agent which should help new companies with these documents. By taking advantage of such a service, directors and owners can focus better on important tasks. Company Address also helps with ensuring all important documents and requirements are available for submission. These documents would be made ready by Company Address on behalf of the new company. Owners of new companies do not have to worry about completing the needed documents. If owners of such companies are not keen on taking advantage of such a service, they can work on the documents on their own and do the submission to Companies House.
By using such services, owners have more time to do core tasks that are needed during the formation of a new company. Copies of the documents will be given to the company. Should a copy be lost, companies can contact Companies House and obtain a copy.
Articles of Association and Memorandum of Association are important documents and papers which are requirements for submission of new companies in the United Kingdom. Companies should provide accurate information and submit the documents during application. Company Address can help with these documents should owners of new companies choose to take advantage of their company formation services.
published under Business Address Guides
