More recently, banking, shipping, insurance and other commercial companies have been given the right to bear arms. The applicant body must be registered or situated in England or Wales, or in another territory or country of which The Queen is Head of State, e.g. New Zealand. It must be well established, of sound financial standing, and be a leading or respected body in its field. It may be incorporated by Act of Parliament, by Royal Charter, or under the Companies Acts, and could be a commercial enterprise, local authority, school, university, or charity. Similar bodies in the USA may also have arms 'devised' for them.
Professional associations governed by a constitution are also eligible.