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... All English companies' constitution contains a memorandum and articles of association. The articles determine how it will be run and where the decision making power lies. The content of the articles is decided by the members although the Companies Act 1985 allows for the adoption of a standard set of articles in its Table A. Generally, the articles provide that management of the company be delegated to the board of directors. The courts are reluctant to intervene in such matters, as they do not feel competent to do so. However the Law must strike the correct balance between management and the shareholders by ensuring that the articles act as a sufficient restriction on the board's managerial powers whilst also promoting business efficiency by not allowing unnecessary restrictions contained in the articles to hinder the general management of the company. Table A, regulation 70 gives directors wide managerial
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