Term: ARTICLES OF ASSOCIATION

Prior to the Companies Act (71 of 2008), this was a document, drawn up by the subscribers of a company at its inception, which governed the internal affairs and management of the company. The articles dealt with the nature of the company’s shares, the transfer of shares, holding of meetings, powers and qualifications of the directors etc. Under the current Companies Act (in force since May 2011) the Memorandum and Articles of Association are included together in a new document called the “Memorandum of Incorporation” and all companies were required to convert their memorandum and articles into a new Memorandum of Incorporation (MOI).

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