Question Scenario
What is the effect of Memorandum & Articles when registered?
Estimated Writing Time: 3 mins Try in Practice Mode
Source: 2)b)ii)2m,MDTP10, 2(b)(ii)2m,Sept20242 Marks
Back to Law List Suggested Answer
Effect of Memorandum and Articles: As per Section 10 of the Companies Act, 2013, where the memorandum and articles when registered, shall bind the company and the members thereof to the same extent as if they respectively had been signed by the company and by each member, and an agreement to observe all the provisions of the memorandum and of the articles.\nAll monies payable by any member to the company under the memorandum or articles shall be a debt due from him to the company.
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When answering law questions in the CA Foundation exam, follow the "Provision -> Facts -> Conclusion" structure for maximum marks. Ensure to state the relevant sections where applicable to earn bonus marks from the evaluator.
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