What is company constitution?

Company Constitution: The constitution of a company sets out the basic frameworks by which a company is organised. It outlines the objects of the company and governs the rights, powers, duties and obligations conferred on the company, its board of directors and its shareholders. The company constitution essentially creates a contract between the company and all of its members, and between these members.

• With the enactment of the Companies (Amendment) Act 2014, the requirement of having M&AA (Memorandum & Articles of Association of the Company) has been removed, which now mandates all companies incorporated on or after 3 January 2016 to adopt a single-document constitution.
• For companies incorporated before 3 January 2016 are not needed to replace the existing documents with the single-document constitution and can continue using the old M&AA.