Amended and updated notes on section 10 of Companies Act 2013. Detail discussion on provisions and rules related to effect of memorandum and articles.
Chapter II (Sections 3–22) of the Companies Act, 2013 (CA 2013) deals with the provisions related to incorporation of company and matters incidental thereto. Section 10 of CA 2013 provides for effect of memorandum and articles.
Recently, we have discussed in detail section 9 (Effect of registration) of CA 2013. Today, we learn the provisions of section 10 of Companies Act 2013 read with the Companies (Incorporation) Rules, 2014.
Section 10 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 902(E) issued dated 27.03.2014. This notification was come into force from 1st April, 2014 i.e. the commencement date of section 10 is 1-4-2014.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | II |
| Chapter Name | Incorporation of Company and matters incidental thereto |
| Section No. | 10 |
| Section Name | Effect of memorandum and articles |
| Monthly Updated Edition | Company Law PDF |
Section 10 of Companies Act 2013: Effect of memorandum and articles
Section 10 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.
(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.