Please enable JavaScript.

Coggle requires JavaScript to display documents.

MoA & AoA - Coggle Diagram

- - - - Basic requirements: - Limited by shares, guarantee & unlimited
  - - - Nothing must contradict the provisions of the act
    - - Statutory contract binding between co. & members qua members & between members inter se
- - - - when registered, it constitutes a statutory contract
      - binding as if signed and sealed by every members
    - - binding between company and members qua members
      - binding between members inter se
    - - not defeasible and is furthermore incapable of being rectified by court
- - - - any transaction made outside the object clause is void
    - - Sec 20(1)
        
        transaction made outside object is valid as long as the parties concerned
      - Sec 20(2)(a)
        
        member of the company have right to take action against the company to restrain the performance of ultra vires
      - Sec 20(2)(b)
        
        company @ member can take action against the officers of the company who authorized the ultra vires trans
      - Sec 20(3)
        
        member can claim for the damagers
        
        minister charge with responsibility for companies may petition to wind up company which entered into ultra vires trans