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10 Effect of memorandum and articles.

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CHAPTER II

Section 10 of Companies Act 2013

1.     Subject to the provisions of this Act, the memorandum and articles shall, when registered, 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 contained covenants on its and his part to observe all the provisions of the memorandum and of the articles.

2.     All monies payable by any member to the company under the memorandum or articles shall be a debt due from him to the company.

Short Notes:

  • This section  came into force from April 1, 2014.
  • It seeks to provide for the effect of memorandum and articles whereby the memorandum and articles shall be binding on the company and the members to the extent as if they respectively had been signed by the company and by each member.
  • All moneys payable by members to the company shall be debt due from him to the company.

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