What is the effect of the Notice of Articles and Articles post-incorporation?

The Notice of Articles and Articles serve a fundamental role in corporate governance once a company is incorporated. They create a binding contract between the shareholders and the company, establishing the rights, responsibilities, and governance framework under which the company operates. This contract is crucial because it creates a legal relationship that ensures shareholders have a clear understanding of their rights, such as voting on important company matters, receiving dividends, and participating in the distribution of assets upon dissolution.

The articles outline the company's operational procedures, the rights attached to different classes of shares, and various governance issues, ensuring that all shareholders are aware of and adhere to the same rules. This contractual nature means that the Articles effectively bind both the company and its shareholders, providing a structure for interactions and conflicts resolution within the corporation.

Other choices do not accurately reflect the effects of the Notice of Articles and Articles. For example, the temporary suspension of director duties is not relevant, nor do these documents allow for the termination of prior agreements with previous shareholders or signal the end of the incorporation process. Each of these points misses the key aspect of the Articles as a binding framework for all parties involved.