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Memorandum of association
The document which forms the basis of registration of a company. As required by the Companies Acts, the Memorandum of Association must list the subscribers to the capital of the company and the number of shares they have agreed to take, the name and address of the company, and, where appropriate, the powers and objects of the company and that the libaility of its members is limited. The Arcticles of Association set out the rules by which the company will be administered, e.g. the voting of directors or the calling of meetings.
Reference: The Penguin Dictionary of Economics, 3rd edt.
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