Article of association is one of the important documents. Article of association contains the rules that govern the management of the internal affairs of a company.

Every person holding equity share capital of the company and whose name is entered as a beneficial owner in the records of the depository shall be deemed to be a member of the concerned company.

The account can be operated by his widow, being guardian of the eldest male member to be called karta.

An important step in the formation of a company is to prepare a document called 'Memorandum of Association'. It is the charter of a company and is a very important document as it contains the basic conditions on which the company is incorporated.

In a public limited company, the maximum and minimum numbers of shareholders are unlimited and 7, respectively. 

As conversion of a public company into a private company involves alteration of 'Articles of Association' of a public company, so central government's permission is required in case of conversion of a public company into a private company.

Articles of association is a concept of the Companies Act. 

The time lag between two successive annual general meetings of a company shall not exceed 15 months, which may further be extended by the Registrar by 3 months. 

The provision regarding this maximum number of partners is mentioned in the Indian Companies Act.

A government company is any company in which not less than fifty-one percent of the paid-up share capital is held by the central government or by any state government or governments or partly by the central government and partly by one or more.

Any person dealing with a company is deemed to have knowledge of its memorandum of association and articles of association.

The rules and regulations for the internal management of a company are contained in its articles of association.

The articles of association is a contract between a company and its members and also between the members themselves that they shall abide by the rules and regulations of internal management of the company specified in the AA.

Articles of association need not be prepared and registered with the registrar of companies in public limited companies.

Articles of association may be changed with retrospective effect.