Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Memorandum of Association vs Articles of Association
- This topic has 3 replies, 2 voices, and was last updated 5 years ago by MikeLittle.
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- January 31, 2019 at 6:49 am #503754
Hi Tutor
May I ask for the difference of the two terms, what each contains and are they both required to be filed at the Registrar of Companies?
January 31, 2019 at 7:50 am #503762They have always been talked of as though they were a single document but the reality is that they are two quite separate documents each with its own separate purpose
The memorandum USED to be THE major important document in the creation and life of a company but that importance has now diminished so that nowadays the memorandum merely sets out the name of the company and the formal wish of the subscribers to form a limited company. It bears the subscribers’ signatures and an indication of how many shares those subscribers each undertake to acquire
The articles were traditionally secondary to the memorandum but the ranking order has now changed and the articles have assumed the greater power
The articles are the rules that will govern the running of the company. If you follow this link, you’ll find the latest edition of a model set of articles
https://www.legislation.gov.uk/uksi/2008/3229/pdfs/uksi_20083229_en.pdf
Just a look down the index page will show you the sort of matters that are covered by a company’s articles
Are they both required to be filed with the Registrar? Yes they are both required
OK?
January 31, 2019 at 8:38 am #503768Got it.Thanks.
January 31, 2019 at 8:40 am #503770That’s good – you’re welcome
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