Alteration of articles
This query is : Resolved
10 May 2018
Provision in article which has the effect of limiting the company 's share capital to a fixed amount is void being contrary to the act .
please explain why it is void.?
please explain why it is void.?
10 May 2018
1. Maximum amount of capital is in MOA { sec. 2(8)} not in AOA.
2. Restriction in AOA overrides sec 13(1) and 61(1)(a).
2. Restriction in AOA overrides sec 13(1) and 61(1)(a).
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