Memorandum and Articles of Association
The legal effects of Memorandum and Article of Association
The M&AA is considered as a statutory contract between the company and the members. The contract also stands between the members of the company and also binds the new members that are appointed in the company after its incorporation.
If the company or a member is not complying with the Articles, it may result in procedural irregularity. If the non-compliance is by a company, then a member can obtain a declaration to make the company comply.
However, if the non-compliance is by a member then another member of the company can obtain the declaration for damages.