articles of association of those documents which sets out the rules and regulations for the company it carries out the operations of internal affairs of the company it looks into the internal affairs of the company.

There are many clauses in articles of association some of them are:

1. line of shares line of shares means to retain the position of the shares when in case the shared folder or a member is unable to pay his depth to the company then they possess the shares held by him.
2. calls on shares which means that when subscribing to the shares shareholders will not be paying some allotment money or call money and in order to make them pay the whole part of the remaining part of the unpaid capital on each shares the shareholders of the company will demand them to pay the money on shares which is called as calls on shares.
3. transfer of shares articles of association will provide for the transfer of shares from the shareholder to another which means it is a procedure of transfer in the shares which is held by the transferer to the transferee.
4. transmission of shares it actually means that transmitting the shares on account if the person is dead or someone is taking over is succession or is married or increase a person as point insolvency than he can transmit the share it is not voluntary but in fact it is brought about by the operation of the law
5. forfeiture of shares the articles of association will also provide forfeiture of shares it means that after purchasing the share they have to pay the allotment money or call money if this money are not paid or not met by the shareholders then they can forfeit the shares
6. surrender of shares articles of association will also provide for the surrender of shares which means the shareholder can voluntary surrender the share he own to the company back.
7. share warrant this is a bearer document relating to the title of the shares which is issued by the public companies to its shareholders highlighting the title of the shares but it can not be issued by the private company only public company can issue the share warrant.
8. alteration of capital articles of association will also provide for alteration of capital where they can increase decrease or rearrange the capital as provided by the articles association.