1eh 'oo Llng All rlghts reserved

!"#$%&'()# $+ ,--$./&0/$'
!"#$$ &'(
ls the buslc constltutlonul document of u co,
lt sets out the co.'s structure und ulms,
lt defnes the churucterlstlcs thut the co. resents to the outslde world.
1he MA ls one of the documents requlred to be lodged wlth the RCC for the formutlon of u co.
lt contulns mutters whlch would be lmortunt to ersons deullng wlth the co.
1he MA together wlth the AA muy be regurded us the constltutlon of the co.

!"#$%&' )*+), -./01 requlres the MA to stute.
. the nume of the co,
z. the objects of the co,
.the shure cu wlth whlch the co. rooses to be reglstered (unless lt ls un unllmlted co.)
.lf the co. ls llmlted by shures, thut the co. ls llmlted,
.lf the co. ls llmlted by guuruntee, thut the co. ls llmlted und the muxlmum umount euch
member undertukes to contrlbute ln the event of the wlndlng u of the co.
6.lf the co. ls un unllmlted co., thut the llublllty of the member ls unllmlted,
,.the full numes, uddresses und occuutlons of the subscrlbers to the memorundum, und
8.thut the subscrlbers ure deslrous of formlng u co. ln ursuunce of the memorundum und
(where the co. ls to huve u shure cultul) resectlvely ugree to tuke the number of shures ln
the cultul of the co. set out ooslte thelr resectlve numes.
.2$"34$%&' &5 6"7&34'897 &5 .::&#%4$%&'
!"#$%&' ;)+), -./01 u co's MA muy be ultered ln the munner rovlded by the uct.
,10"%&0/$' $+ 02" 345".0 61&)-"
!"#$%&' ;*+), < +)=, -./01
A co. muy ulter lts objects cluuse by u seclul resolutlon ln uccordunce wlth !"#$%&' ;*+), -./01>

A seclul resolutlon ls u resolutlon thut ls ussed by u mujorlty of j the members und votlng ut CM of whlch not less
thun z duys notlce hus been glven !"#$%&' )1;+), -./01

!"#$%&' ;*+;, -./01 z duys wrltten notlce must be glven.
!"#$%&' ;*+?, -./01 < notlce must be glven to ull members und to ull trustees for debenture holders or to debenture
holders dlrectly lf there ure no trustees.
!"#$%&' ;*+@, -./01 the court muy dlsense wlth the notlce requlred by subsectlon z lf the reusons glven ueur
sumclent to the court.
!"#$%&' ;*+1, -./01 rovldes fro some rotectlon for the mlnorlty. ln essence,
lt ullows the holders of not less thun c of the nomlnul vulue of the co's lssued cultul, or
c of the co.'s members (ln the cuse of u co. NC1 llmlted by shures), or
the holders of not less thun c ln nomlnul vulue of the co.'s debentures to uly to the court to cuncel the
ulterutlon.
*the ulterutlon wlll huve no eect unless the court confrms lt.
!"#$%&' ;*+0, -./01 z duys gruce erlod ls glven ufter the usslng of the resolutlon for certuln ersons to rulse
objectlons.
!"#$%&' ;*+A, -./01 ln confrmlng the ulterutlon, the court wlll huve regurd to the rlghts und lntentlons of the members
us well us the credltors of the co. 1he court muy muke un order cuncellng the ulterutlon or confrmlng the ulterutlon
elther wholly or ln urt.
!"#$%&' ;*+B, -./01 ufter the exlry of the gruce erlod, the resolutlon must be lodged wlth the Reglstrur wlthln duys.
!"#$%&' ;*+)=, -./01 < the ulterutlon wlll tuke eect on lodgment of the resolutlon (lf confrm by court)
z 1eh 'oo Llng All rlghts reserved
6$#7&'89- :&#"
!)#** &*+(
1he RCC hus stututory owers of control over the cholce of numes.
8efore u co. cun be reglstered, u nume hus to be reserved !"#$%&' ;;+A, -./01
1he reservutlon ls done ln u rescrlbed form und ls eectlve for z months. Lurlng
thls tlme no other co. cun use thls nume !"#$%&' ;;+B, -./01
A further extenslon of z months cun be mude < !"#$%&' ;;+)=, -./01
!"#$%&' ;;+), -./01 Reglstrutlon wlll be refused on the followlng grounds
)> Undeslruble nume
;>Nume whlch ls ldentlcul to unother co.
?> Nume whlch ls slmllur to some other nume of u co. (whlch mukes the ubllc confused)
!"#$% ' ()**+,-). /0,%0,#$+ 12 3*4
@>Nume thut suggests connectlon wlth the government or locul uuthorlty (unless omclul urovul obtulned)
or some rofesslonul exertlse (unless urorlute rofesslonul bodles urovul obtulned)
1>At the dlscretlon of the RCC, the roosed co. ls llkely to be used for un unluwful urose und contrury to
the nutlonul securlty.
!"#$%&' ;? -./01 u co. muy by seclul resolutlon resolve thut lts nume should be chunged to u nume by whclh
the co. could huve been reglstered wjo contruventlon of !"#$%&';;+), -./01>
!"#$% ' ()**+,-). /0,%0,#$+ 12 3*4 (the co. wus revented from uslng the blz nume '1he 8uttercu Murgurlne Co Ltd' becuuse of the
confuslon wlth the blz truded us '1he 8uttercu Lulry Co.')
(1he court muy grunt un lnjunctlon ln u 'usslngo' uctlon to revent u co. from uslng lts reglstered nume, lf
the use of thut nume cuuses the co.'s goods to be confused wlth unother co. l.e. defendunt ls trylng to
beneft from the goodwlll of un exlstlng co.)
lnjured urty must show:
)> 1here ls confuslon due to the reglstered numes us the blz ure the sume
5)$62. 7$+)80*#- 9:,+ 12 394 ' 5)$62. /2*2, 12 3*4
;>lf clulm ls on u word, lt must be somethlng excluslve und dlstlnctlve (not u word of generul use)
;+,0*2,< ' 9266#*
1eh 'oo Llng All rlghts reserved
,%0/.1"- $+ ,--$./&0/$'
!"#$' &,-(
Coverns the duy to duy udmlnlstrutlon of the co's uulrs.
lt contulns the rules und regulutlons by whlch lts !"#$%"&' &)&!%* ure governed.
Rlghts uttuched to urtlculur shures
1he trunsfer of such shures
1he conduct of meetlngs
1he uolntment und owers of dlrectors
1he uyment of dlvldends
Unllmlted co.s und co.s llmlted by guuruntee must lodge urtlcles wlth the
CCM, whlle co.s llmlted by shures muy lodge urtlcles, but need not do so
!"#$%&' ;B+), -./01
lf no urtlcles ure lodged by u co. llmlted by shures, the urtlcles contulned ln
the C4D2" . of E&93$F !#F"892" shull be udoted
!"#$%&' ?=+), -./01
,10"%&0/$' $+ 02" ,%0/.1"- $+ ,--$./&0/$'
< !"#$%&' ?)+), -./01
1he co. muy ulter lts urtlcles by u seclul resolutlon.
< 1he courts huve held thut uny ulterutlon must be done !"#$ &'( for the beneft of the co. us u whole.
Eowever,
uny such ulterutlon ls subject to the followlng G":$3%#$%&':H
. 1he ulterutlon must not contuln unythlng lllegul.
z. 1he ulterutlon cunnot contruvene the rovlslons of the CA'6.
.1he ulterutlon cunnot uuthorlze unythlng forbldden by the MA.
.1he ulterutlon must not requlre members to tuke or subscrlbe for more shures, or lncreuse thelr
llublllty to the co. unless they huve glven thelr wrltten consent. !"#$%&' ??+@, -./01>
lt ls for the members to declde whether the ulterutlon ls for the beneft of the members und
the test ls objectlve.
1he ulterutlon would be consldered us !"#$ &'( for the beneft of the co. us u whole lf the
ulterutlon uected ull members ln u slmllur wuy und dld not dlscrlmlnute between members or
grous of them.
I3""'F42JF K .38"3'" -%'"74: (1he ulterutlon wus vulld slnce every member, lncludlng the mlnorlty sjholders, would
now be free to sell the shures to un outslder.)

1he ulterutlon must be for the beneft of the co. us u whole und not the mujorlty
(,2"$ ' (,#*#<= ;>,0<#'+ ?=++6 12 (1he mujorlty who held 8 of the shures were reured to lnject more money lnto
the co. to suve lt on condltlon thut the mlnorlty could be comelled to sell thelr shures to them. Eeld the roosed ulterutlon wus
meunt to beneft, not the co., but the mujorlty. 1he mlnorlty wus therefore entltled to un lnjunctlon to restruln the ulterutlon)

1he ulterutlon ls vulld lf urose benefts the co. us u whole even though u mlnorlty does suer
seclul detrlment.
@#4+>2**28 ' A+,<=0" 3++<+ B 12 (1he ulterutlon wus to exel u member who currled on u buslness ln cometltlon wlth
the co. lt wus u vulld ulterutlon.)
1eh 'oo Llng All rlghts reserved
;<".0 $+ 02" !"#$%&'()# &'( ,%0/.1"- $+ ,--$./&0/$'
!)#$. &*-(
1he MA und AA when reglstered blnd:
u. the members to the co.,
b. the co. to the members, und
c. the members to euch other !"#$%&' ??+), -./01
1he eect ls us lf the memorundum und urtlcles huve been slgned und seuled by
euch member, und contulned covenunts on the urt of euch member to observe
ull the rovlslons of the MA und AA und the co. to ermlt these rlghts.
*do NC1 blnd co. und outslder.
6"7D"3: 4'8 6"7D"3:
!"#$%&' ??+), -./01
1he terms of the urtlcles ure
regurded us the terms of u contruct
umong members themselves, und
therefore one member muy enforce
the urtlcles ugulnst unother member.
?2$% A#8 C0** ' 3+2$% B 12 @4$ (=4
(Eeld the mlnorlty sjholders wus bound to comly
wlth the demund us lt wus urt of whut the defendunt
hud burguln for.)
D0:E+64 ' F0$4<
(Contruct between u member und u memberdlrector
urtlcles requlred thut every dlrector should be u sj
holder und thut every dlrector must urchuse shures of
uny member who guve them notlce to dlsose lt und
dlrectors were held bound to thls)
6"7D"3: 4'8 -&7L4'M
. 8oth ure contructuully bound so
must observe rovlslons
F#-G80$ ' A+$*
(member hud to comly wlth the urtlcles und submlt
dlsute to urbltrutlon not court)
z. Note thut the member ls only bound
on rovlslons thut uect u member
ln hls cuuclty us u member
-&7L4'M 4'8 N9$:%8"3:
. An outslder l.e. u rd urty u non
member ure not rlvy to thls
contruct und therefore cunnot
enforce.
z. A member wlll ulso be consldered un
outslder und not bound lf hls rlghts
mentloned ls ln u cuuclty other
thun us u member
!6+: ' 72<#*#'+ H2'* @+-),*#: 3#I+
;<<),0$-+ 12J (Lley, even though u member,
could not rely on the rovlslon ln the urtlcles to emloy
hlm us u sollcltor slnce the rovlslon ln the urtlcle wus u
contruct between the co. und lts members und he wus
not ussertlng u clulm us u member)
1eh 'oo Llng All rlghts reserved
='($$% !&'&>"#"'0 ?)1"
+D2:06 (,#*#<= (0$G ' 9),K)0$4,
1hls rule rotects rd urty contructlng wlth the co.
!"#$/ &,0 "#$' &*+(
1he rule ln D2:06 (,#*#<= (0$G ' 9),K)0$4 (whlch ls ulso known us the lndoor Munugement Rule), ls u rule by whlch rd
urtles deullng wlth u co. ln clrcumstunces where the omcer, uctlng on behulf of the co, hus exceeded hls uuthorlty us
found ln lts AA, ure entltled to enforce the trunsuctlon ln questlon ugulnst the co. deslte the luck of uuthorlty.

1he rule ls ullcuble only where the omcer's luck of uuthorlty wus due to noncomllunce wlth un lnternul rocedure
of the co.

D2:06 (,#*#<= (0$G ' 9),K)0$4
ln thls cuse, the dlrectors of u co. lssued u bond to the Royul 8rltlsh 8unk.
Under the AA of the co. they hud the ower to do so, lf uuthorlzed by u generul resolutlon of the co.
1he co. dlsclulmed uny llublllty on the ground thut there wus no resolutlon ussed uuthorlzlng the lssue of the bond.
Eeld the bunk wus entltled to sue on the bond.
As the requlrement for the resolutlon wus u mutter of lnternul regulutlon for the co. und the bunk could not know
whether such resolutlon hud ln fuct been ussed, lt wus entltled to resume thut lt hud lndeed been ussed.
1he %7L&3$4'#" of the rule ls thut
lt usslsts rd urtles deullng wlth u co. ln good fulth by estolng the co. from denylng llublllty ln clrcumstunces where
some lnternul rocedure of the co. hud not been followed und the rd urty could not be exected to know of the
lrregulurlty.
lf not for the rule, the trunsuctlon would be volduble ut the otlon of the co.
Eowever,
the rule ls subject to severul "O#"L$%&'::
. vhere the erson seeklng to rely on lt wus not uwure of the contents of the urtlcle.
D080 12,.2,0*#2$ 3*4 ' 7,2'+4 9#$ B H+$+,06 L$'+<*8+$* 3#8#*+4
z. vhere the erson seeklng to rely on lt hus notlce of the lrregulurlty
F2"0,4 ' 70*+$* L'2,: 12J
.vhere the document on whlch the erson seeks to rely ls u forgery
D)>+$ ' H,+0* C#$%066 12$<26#40*+4
.vhere the erson seeklng to rely on lt wus ut on lnqulry und the lrregulurlty would huve been dlscovered lf he hud
mude due lnqulrles.
;J3 M$4+,"224 3*4 ' (0$G 2I 3#'+,.226
1he rule wlll ulso not uly where the rd urty ls deemed to huve constructlve notlce of mutters whlch ure requlred
to be lodged wlth the reglstrur.
lor exumle,
the lorm (Return Clvlng Purtlculurs ln Reglster of Llrectors, Munugers, und Secreturles und Chunges of Purtlculurs)
und seclul resolutlons.
A3 +$%#$++,#$% @4$ (=4 B ;$2, ' ;,0> /060:<#0$ C#$0$-+ (=4
L,'#$+ ' M$#2$ (0$G 2I ;)<*,06#0
Purtles deullng wlth the co. ure deemed to huve notlce of the
contents of u reglstered co.
1hls ls to rotect the sjholders und credltors of the co.
6 1eh 'oo Llng All rlghts reserved
!"#$% '($)* @$.0%/'"
!)#$1 &10 )#$* &2(
) *+,-$ ./-(0 llterully meuns 'beyond the ower'.
) ln the context of co. luw, u co. ls suld to be uctlng 1+,-$ ./-(0 when lt
goes beyond lts cuuclty us contulned ln lts objects cluuse.
1he modlfcutlons of the doctrlne ln Muluyslu muy be :97743%P"8 us follows:
. A comleted 1+,-$ ./-(0 trunsuctlon remulns vulld us between the co. und the rd urty und elther urty
muy sue the other uon lt. Eowever, us mentloned ubove, uncomleted trunsuctlons muy be restrulned
on grounds of 1+,-$ ./-(02
z. lurther, the resent und former omcers of the co. muy be mude lluble to the co. for the 1+,-$ ./-(0
trunsuctlon. ln uddltlon the lssue of 1+,-$ ./-(0 muy be relled uon by the mlnlster to wlnd u the co.
M6*,0 N#,+< .#$: 43" Q&%8
) At common luw, uny 1+,-$ ./-(0 uct or trunsuctlon of u co.
wus held to be totully vold.
) Nelther the co. nor the rd urty could enforce such u
trunsuctlon.
) 1hls rlnclle ls know us the doctrlne of 1+,-$ ./-(02
R93L&:"
1o rotect the lnvestors of the co. l.e. lts members us well
us lts credltors, who could rest ussured thut thelr money
would be ulled only for the uroses stluluted ln the
objects cluuse.
Eowever, the doctrlne hud the tendency of creutlng
hurdshl eseclully uon rd urtles who hud deult wlth u
co. wjo belng uwure thut the trunsuctlon wus outslde the
cuuclty of the co. l.e. 1+,-$ ./-(02
lt wus ulso cuuble of cuuslng dlmculty to the co. ltself,
whlch could not venture lnto new uctlvltles wjo ulterlng
the objects cluuse.
M6*,0 N#,+< .#$: 43" Q42%8 5&3 ?38 R43$M
) 1he common luw osltlon of the 1+,-$ ./-(0 doctrlne hus
been modlfed ln Muluyslu us u result of !"#$%&' ;= -./01
!"#$%&' ;=+), -./01
) No uct or urorted uct of u co., und no conveyunce or
trunsfer of roerty to, or by, u co. shull be lnvulld by
reuson only thut lt ls 1+,-$ ./-(0.
) As u result of thls sectlon, 1+,-$ ./-(0 trunsuctlons ure vulld
und blndlng uon the co. und the rd urty.
) Eowever,
thls does not meun thut the 1+,-$ ./-(0 doctrlne hus been
totully ubollshed ln Muluyslu. Co.s ure stlll exected to uct
wlthln the scoe of the objects cluuse.
!"#$%&' ;=+;, -./01
O0P uny member of the co. or debenture holder secured by
u foutlng churge on the co.'s roerty or the trustees
of for such debenture holders muy tuke roceedlngs
ugulnst the co. to restruln the co. from dolng uny 1+,-$
./-(0 uct, or conveyunce or trunsfer of uny roerty to,
or by, the co.
!"#$%&' ;=+?, rovldes thut the court muy ullow
comensutlon to the co. or other urty for loss suered
us u result of gruntlng the lnjunctlon.
O>P the lssue of 1+,-$ ./-(0 muy be relled uon by the co. or
uny member ln roceedlngs ugulnst the resent or
former omcers of the co.

O-P the lssue of 1+,-$ ./-(0 muy be relled uon ln uny
etltlon by the mlnlster to wlnd u the co.
ST"#$ 9'8"3 -&77&' U4V
ST"#$ 9'8"3 !$4$9$"