Explain the meaning and purpose of Articles of Association (AoA).

The Articles of Association (AoA) are a legal document that outlines the rules, regulations, and internal management structure of a company. It is one of the two key constitutional documents, along with the Memorandum of Association, that govern the company's operations and relationships.

The purpose of the Articles of Association is to provide a framework for the internal management and administration of the company. It specifies the rights, duties, and powers of the company's members and directors, as well as the procedures for conducting meetings, issuing shares, and distributing dividends. The AoA helps establish the internal governance structure, define decision-making processes, and ensure consistency in the company's operations.

Key provisions in the Articles may include details on share classes, appointment and removal of directors, voting rights, dividend distribution, and procedures for altering the AoA itself. It serves as a crucial reference point for shareholders, directors, and other stakeholders, guiding the company's internal affairs and contributing to its smooth functioning within the legal framework.