12.4.3 (Subject Matter of Articles)

The articles of a company usually deal with the following matters;

(1) the business of the company;

(2) the amount of capital issued and the classes of shares into which the capital is divided; the increase and reduction of share capital;

(3) the rights of each class of shareholders and the procedure for variation of their rights;

(4) the execution or adoption of a preliminary agreement, if any;

(5) the allotment of shares; calls and forfeiture of shares for non-payment of calls;

(6) transfer and transmission of shares;

(7) company's lien on shares;

(8) exercise of borrowing powers including issue of debentures;

(9) general meetings, notices, quorum, proxy, poll, voting, resolution, minutes;

(10) number, appointment and powers of directors;

(11) dividends - interim and final- and general reserves;

(12) accounts and audit;

(13) keeping of books - both statutory and others.