• COMP 2.2 COMP 2.2 Articles of Association

    Amended (as from 5th April 2015).

    • COMP 2.2.1

      For the purposes of Article 49 of the Companies Regulations, the articles of association set out in COMP Appendix 1 are prescribed as the standard LLC articles of association.

      Amended (as from 5th April 2015).

    • COMP 2.2.2

      If the standard articles are not adopted, then the articles filed by the LLC with the application for a certificate of incorporation must, at least, provide for:

      (A) the purpose for which the LLC is being formed;
      (B) the amount of share capital of the LLC and the creation of classes of shares, where the LLC considers that it may seek to create classes of shares;
      (C) the issue or alteration of share capital;
      (D) the rights attaching to shares or classes of shares;
      (E) the transfer of shares and, if relevant, liens over shares;
      (F) an annual general meeting;
      (G) the requisition, by members, of general meetings;
      (H) the proceedings including voting at general meetings;
      (I) accounts and other information to be provided to members before every annual general meeting;
      (J) the maximum number of directors;
      (K) the appointment, retirement, disqualification and removal of directors and other officers;
      (L) the remuneration of directors;
      (M) the powers of directors, including powers to borrow on behalf of the company and the delegation of those powers;
      (N) proceedings of directors meetings;
      (O) appointment of the secretary; and
      (P) the keeping of minutes.
      Amended (as from 5th April 2015).