Alteration of Article Section
14
no co can deprive itself of this right
alter the articles but it should not exceed the boundaries of memorandum
alteration of articles restrictions
-1must not exceed authority of memorandum
- 2must not be inconsistent with the provisions of companies act
- 3must not go against the orders of the tribunal
-4alterations must not be unlawful, opposed to public policy
- 5alterations may be in retrospective if it is bonafide for co as a whole
6 alteration must not enable bod to expel any member
7 alteration must not enable a company to commit breach of contract to avoid contractual liability
8 alteration must not compel existing shareholders to subscribe to more shares
9 alteration must not constitute fraud against minority
10 alteration should be for the bonafide of the co as a whole
alteration should not enable a co to comitt breach of contract case law
southern foundries ltd vs shirlaw
