Source: http://www.dottoricommercialistilondra.studiorossini.com/Studio-Commercialisti-Londra/statuto-ltd-uk
Timestamp: 2017-04-28 19:56:38
Document Index: 731856710

Matched Legal Cases: ['ART 1', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'ART 1', 'ART 4']

Statuto Ltd UK - Dottori Commercialisti Londra Ltd, Società Ltd, Società Inglesi, Costituzione e Gestione Ltd, Apertura Ltd, Apetura conti correnti a Londra, Studio Dottore Commercialista Londra
Sommario1 MODEL ARTICLES FOR PRIVATE COMPANIES LIMITED BY SHARES2 PART 1 - INTERPRETATION AND LIMITATION OF LIABILITY2.1 INTERPRETATION AND LIMITATION OF LIABILITY2.1.1 1 - Defined Terms2.1.2 2 - Liability of Members3 PART 2 - DIRECTORS3.1 DIRECTORS’ POWERS AND RESPONSIBILITIES3.1.1 3 - Directors’ General Authority3.1.2 4 - Shareholders’ Reserve Power3.1.3 5 - Directors May Delegate3.1.4 6 - Committees3.2 DECISION-MAKING BY DIRECTORS3.2.1 7 - Directors to Take Decisions Collectively3.2.2 8 - Unanimous Decisions3.2.3 9 - Calling a Directors’ Meeting3.2.4 10 - Participation in Directors’ Meetings3.2.5 11 - Quorum for Directors’ Meetings3.2.6 12 - Chairing of Directors’ Meetings3.2.7 13 - Casting Vote3.2.8 14 - Conflicts of Interest3.2.9 15 - Records of Decisions to Be Kept3.2.10 16 - Directors’ Discretion to Make Further Rules3.3 APPOINTMENT OF DIRECTORS3.3.1 17 - Methods of Appointing Directors3.3.2 18 - Termination of Director’s Appointment3.3.3 19 - Directors’ Remuneration3.3.4 20 - Directors’ Expenses4 PART 3 - SHARES AND DISTRIBUTIONS4.1 SHARES4.1.1 21 - All Shares to Be Fully Paid Up4.1.2 22 - Powers to Issue Different Classes of Share4.1.3 23 - Company Not Bound by Less than Absolute Interests4.1.4 24 - Share Certificates4.1.5 25 - Replacement Share Certificates4.1.6 26 - Share Transfers4.1.7 27 - Transmission of Shares4.1.8 28 - Exercise of Transmittees’ Rights4.1.9 29 - Transmittees Bound by Prior Notices4.2 DIVIDENDS AND OTHER DISTRIBUTIONS4.2.1 30 - Procedure for Declaring Dividends4.2.2 31 - Payment of Dividends and Other Distributions4.2.3 32 - No Interest on Distributions4.2.4 33 - Unclaimed Distributions4.2.5 34 - Non-Cash Distributions4.2.6 35 - Waiver of Distributions4.3 CAPITALISATION OF PROFITS4.3.1 36 - Authority to Capitalise and Appropriation of Capitalised Sums5 PART 4 - DECISION-MAKING BY SHAREHOLDERS5.1 ORGANISATION OF GENERAL MEETINGS5.1.1 37 - Attendance and Speaking at General Meetings5.1.2 38 - Quorum for General Meetings5.1.3 39 - Chairing General Meetings5.1.4 40 - Attendance and Speaking by Directors and Non-Shareholders5.1.5 41 - Adjournment5.2 VOTING AT GENERAL MEETINGS5.2.1 42 - Voting: General5.2.2 43 - Errors and Disputes5.2.3 44 - Poll Votes5.2.4 45 - Content of Proxy Notices5.2.5 46 - Delivery of Proxy Notices5.2.6 47 - Amendments to Resolutions5.3 PART 5 - ADMINISTRATIVE ARRANGEMENTS5.3.1 48 - Means of Communication to Be Used5.3.2 49 - Company Seals5.3.3 50 - No Right to Inspect Accounts and Other Records5.3.4 51 - Provision for Employees on Cessation of Business5.4 DIRECTORS’ INDEMNITY AND INSURANCE5.4.1 52 - Indemnity5.4.2 53 - Insurance
MODEL ARTICLES FOR PRIVATE COMPANIES LIMITED BY SHARES PART 1 - INTERPRETATION AND LIMITATION OF LIABILITYINTERPRETATION AND LIMITATION OF LIABILITY
1. In the articles,
“Bankruptcy” includes individual insolvency proceedings in a
jurisdiction other than England and Wales or Northern Ireland which have an
effect similar to that of bankruptcy;
“Companies Acts” means the Companies Acts (as defined in section 2 of
the Companies Act 2006), in so far as they apply to the company;
“Director” means a director of the company, and includes any person
occupying the position of director, by whatever name called;
“Document” includes, unless otherwise specified, any document sent or
supplied in electronic form;
“Electronic form” has the meaning given in section 1168 of the Companies
Act 2006;
“Fully paid” in relation to a share, means that the nominal value and any
premium to be paid to the company in respect of that share have been paid to
“Hard copy form” has the meaning given in section 1168 of the Companies
“Holder” in relation to shares means the person whose name is entered in
the register of members as the holder of the shares;
“Ordinary resolution” has the meaning given in section 282 of the
“Participate”, in relation to a directors’ meeting, has the meaning
given in article 10;
“Special resolution” has the meaning given in section 283 of the
“Subsidiary” has the meaning given in section 1159 of the Companies Act
“Transmittee” means a person entitled to a share by reason of the death
or bankruptcy of a shareholder or otherwise by operation of law; and
“Writing” means the representation or reproduction of words, symbols or
other information in a visible form by any method or combination of methods,
whether sent or supplied in electronic form or otherwise.
otherwise requires, other words or expressions contained in these articles bear
the same meaning as in the Companies Act 2006 as in force on the date when
these articles become binding on the company.
2. The liability of
the members is limited to the amount, if any, unpaid on the shares held by
DIRECTORS’ POWERS AND
RESPONSIBILITIES 3 - Directors’ General Authority 3. Subject to the
articles, the directors are responsible for the management of the company’s business,
for which purpose they may exercise all the powers of the company.
4.—(1) The
shareholders may, by special resolution, direct the directors to take, or
refrain from taking, specified action.
(2) No such special resolution invalidates anything which the directors
have done before the passing of the resolution.
5.—(1) Subject to the
articles, the directors may delegate any of the powers which are conferred on
them under the articles:
directors so specify, any such delegation may authorise further delegation of
the directors’ powers
by any person to whom they are delegated.
(3) The directors
may revoke any delegation in whole or part, or alter its terms and conditions. 6 - Committees
6.—(1) Committees to
which the directors delegate any of their powers must follow procedures which
are based as far as they are applicable on those provisions of the articles
which govern the taking of decisions by directors.
(2) The directors may make rules of procedure for all or any committees,
which prevail over rules derived from the articles if they are not consistent
DECISION-MAKING BY DIRECTORS 7 - Directors to Take Decisions Collectively
7.—(1) The general
rule about decision-making by directors is that any decision of the directors must
be either a majority decision at a meeting or a decision taken in accordance with article 8.
(b) no provision of the articles requires it to have more than one
does not apply, and the director may take decisions without regard to any of
the provisions of the articles relating to directors’ decision-making.
8.—(1) A decision of
the directors is taken in accordance with this article when all eligible directors
indicate to each other by any means that they share a common view on a matter.
(2) Such a decision
may take the form of a resolution in writing, copies of which have been signed
by each eligible director or to which each eligible director has otherwise
indicated agreement in writing.
(3) References in
this article to eligible directors are to directors who would have been
entitled to vote on the matter had it been proposed as a resolution at a
(4) A decision may
not be taken in accordance with this article if the eligible directors would
not have formed a quorum at such a meeting.
9.—(1) Any director
may call a directors’ meeting by giving notice of the meeting to the directors or by
authorising the company secretary (if any) to give such notice.
(2) Notice of any
directors’ meeting must indicate:
(c) if it is anticipated that directors participating in the meeting
will not be in the same place, how it is proposed that they should communicate
with each other during the meeting.
(3) Notice of a
directors’ meeting must be given to each director, but need not be in writing.
(4) Notice of a
directors’ meeting need not be given to directors who waive their entitlement
to notice of that meeting, by giving notice to that effect to the company not
more than 7 days after the date on which the meeting is held. Where such notice
is given after the meeting has been held, that does not affect the validity of
the meeting, or of any business conducted at it.
10.—(1) Subject to the
articles, directors participate in a directors’ meeting, or part of a directors’ meeting,
(a) the meeting has been called and takes place in accordance with the
(b) they can each communicate to the others any information or opinions
they have on any particular item of the business of the meeting.
(2) In determining
whether directors are participating in a directors’ meeting, it is irrelevant where
any director is or how they communicate with each other.
(3) If all the
directors participating in a meeting are not in the same place, they may decide
that the meeting is to be treated as taking place wherever any of them is.
11.—(1) At a
directors’ meeting, unless a quorum is participating, no proposal is to be
voted on, except a proposal to call another meeting.
(2) The quorum for
directors’ meetings may be fixed from time to time by a decision of the directors,
but it must never be less than two, and unless otherwise fixed it is two.
(3) If the total
number of directors for the time being is less than the quorum required, the directors must not
take any decision other than a decision:
(b) to call a general meeting so as to enable the shareholders to
appoint further directors.
12 - Chairing of Directors’ Meetings 12.—(1) The directors
may appoint a director to chair their meetings.
(2) The person so
appointed for the time being is known as the chairman.
may terminate the chairman’s appointment at any time.
(4) If the chairman
is not participating in a directors’ meeting within ten minutes of the time at which
it was to start, the participating directors must appoint one of themselves to
chair it.
13.—(1) If the numbers
of votes for and against a proposal are equal, the chairman or other director
chairing the meeting has a casting vote.
(2) But this does
not apply if, in accordance with the articles, the chairman or other director
is not to be counted as participating in the decision-making process for quorum
or voting purposes.
14.—(1) If a proposed
decision of the directors is concerned with an actual or proposed
arrangement with the company in which a director is interested, that director
(2) But if
paragraph (3) applies, a director who is interested in an actual or proposed
transaction or arrangement with the company is to be counted as participating
in the decision-making process for quorum and voting purposes.
(3) This paragraph
(a) the company by ordinary resolution disapplies the provision of the
articles which would otherwise prevent a director from being counted as
participating in the decision-making process;
(b) the director’s interest cannot reasonably be regarded as likely to
give rise to a conflict of interest; or
purposes of this article, the following are permitted causes:
(a) a guarantee given, or to be given, by or to a director in respect of
an obligation incurred by or on behalf of the company or any of its
(b) subscription, or an agreement to subscribe, for shares or other
securities of the company or any of its subsidiaries, or to underwrite,
sub-underwrite, or guarantee subscription for any such shares or securities;
(c) arrangements pursuant to which benefits are made available to
employees and directors or former employees and directors of the company or any
of its subsidiaries which do not provide special benefits for directors or
(5) For the
purposes of this article, references to proposed decisions and decision-making processes include
any directors’ meeting or part of a directors’ meeting.
(6) Subject to
paragraph (7), if a question arises at a meeting of directors or of a committee
of directors as to the right of a director to participate in the meeting (or
part of the meeting) for voting or quorum purposes, the question may, before
the conclusion of the meeting, be referred to the chairman whose ruling in
relation to any director other than the chairman is to be final and conclusive.
(7) If any question
as to the right to participate in the meeting (or part of the meeting) should arise
in respect of the chairman, the question is to be decided by a decision of the
directors at that meeting, for which purpose the chairman is not to be counted
as participating in the meeting (or that part of the meeting) for voting or
quorum purposes.
15. The directors must
ensure that the company keeps a record, in writing, for at least 10 years from
the date of the decision recorded, of every unanimous or majority decision
taken by the directors.
16. Subject to the
articles, the directors may make any rule which they think fit about how they take
decisions, and about how such rules are to be recorded or communicated to
APPOINTMENT OF DIRECTORS 17 - Methods of Appointing Directors
17.—(1) Any person who
is willing to act as a director, and is permitted by law to do so, may be appointed
to be a director:
(2) In any case
where, as a result of death, the company has no shareholders and no directors, the
personal representatives of the last shareholder to have died have the right,
by notice in writing, to appoint a person to be a director.
(3) For the
purposes of paragraph (2), where 2 or more shareholders die in circumstances
uncertain who was the last to die, a younger shareholder is deemed to have
survived an older shareholder.
18. A person ceases to
be a director as soon as:
(a) that person ceases to be a director by virtue of any provision of
the Companies Act 2006 or is prohibited from being a director by law;
(c) a composition is made with that person’s creditors generally in
satisfaction of that person’s debts;
(d) a registered medical practitioner who is treating that person gives
a written opinion to the company stating that that person has become physically
or mentally incapable of acting as a director and may remain so for more than
(e) by reason of that person’s mental health, a court makes an order
which wholly or partly prevents that person from personally exercising any
powers or rights which that person would otherwise have;
(f) notification is received by the company from the director that the
director is resigning from office, and such resignation has taken effect in
19.—(1) Directors may
undertake any services for the company that the directors decide.
(2) Directors are
entitled to such remuneration as the directors determine:
(3) Subject to the
articles, a director’s remuneration may:
(b) include any arrangements in connection with the payment of a
pension, allowance or gratuity, or any death, sickness or disability benefits,
to or in respect of that director.
(4) Unless the
directors decide otherwise, directors’ remuneration accrues from day to day.
(5) Unless the
directors decide otherwise, directors are not accountable to the company for
any remuneration which they receive as directors or other officers or employees
of the company’s subsidiaries or of any other body corporate in which the
company is interested. 20 - Directors’ Expenses 20. The company may pay
any reasonable expenses which the directors properly incur in connection with their
(c) separate meetings of the holders of any class of shares or of
debentures of the company, or otherwise in connection with the exercise of
their powers and the discharge of their responsibilities in relation to the
21.—(1) No share is to
be issued for less than the aggregate of its nominal value and any premium to be paid
to the company in consideration for its issue.
(2) This does not
apply to shares taken on the formation of the company by the subscribers to the
company’s memorandum.
22.—(1) Subject to the
articles, but without prejudice to the rights attached to any existing share, the
company may issue shares with such rights or restrictions as may be determined
by ordinary resolution.
(2) The company may
issue shares which are to be redeemed, or are liable to be redeemed at the option
of the company or the holder, and the directors may determine the terms,
conditions and manner of redemption of any such shares.
23. Except as required
by law, no person is to be recognised by the company as holding any share upon
any trust, and except as otherwise required by law or the articles, the company
is not in any way to be bound by or recognise any interest in a share other
than the holder’s absolute ownership of it and all the rights attaching to it.
24.—(1) The company
must issue each shareholder, free of charge, with one or more certificates in
respect of the shares which that shareholder holds.
certificate must specify:
(3) No certificate
may be issued in respect of shares of more than one class.
(4) If more than
one person holds a share, only one certificate may be issued in respect of it.
25.—(1) If a
certificate issued in respect of a shareholder’s shares is:
(b) said to be lost, stolen or destroyed, that shareholder is entitled
to be issued with a replacement certificate in respect of the same shares.
(2) A shareholder
exercising the right to be issued with such a replacement certificate:
(a) may at the same time exercise the right to be issued with a single
certificate or separate certificates;
(b) must return the certificate which is to be replaced to the company
if it is damaged or defaced; and
(c) must comply with such conditions as to evidence, indemnity and the
payment of a reasonable fee as the directors decide.26 - Share Transfers
26.—(1) Shares may be
transferred by means of an instrument of transfer in any usual form or any
other form approved by the directors, which is executed by or on behalf of the
(2) No fee may be
charged for registering any instrument of transfer or other document relating to
or affecting the title to any share.
(3) The company may
retain any instrument of transfer which is registered.
(4) The transferor
remains the holder of a share until the transferee’s name is entered in the register
of members as holder of it.
(5) The directors
may refuse to register the transfer of a share, and if they do so, the
instrument of transfer must be returned to the transferee with the notice of
refusal unless they suspect that the proposed transfer may be fraudulent.
27.—(1) If title to a
share passes to a transmittee, the company may only recognise the transmittee as
having any title to that share.
(2) A transmittee
who produces such evidence of entitlement to shares as the directors may properly
(a) may, subject to the articles, choose either to become the holder of
those shares or to have them transferred to another person, and
(b) subject to the articles, and pending any transfer of the shares to
another person, has the same rights as the holder had.
transmittees do not have the right to attend or vote at a general meeting, or
agree to a proposed written resolution, in respect of shares to which they are
entitled, by reason of the holder’s death or bankruptcy or otherwise, unless
they become the holders of those shares.
28.—(1) Transmittees
who wish to become the holders of shares to which they have become entitled
must notify the company in writing of that wish.
transmittee wishes to have a share transferred to another person, the
transmittee must execute an instrument of transfer in respect of it.
(3) Any transfer
made or executed under this article is to be treated as if it were made or executed by the
person from whom the transmittee has derived rights in respect of the share,
and as if the event which gave rise to the transmission had not occurred.
29. If a notice is
given to a shareholder in respect of shares and a transmittee is entitled to
those shares, the transmittee is bound by the notice if it was given to the
shareholder before the transmittee’s name has been entered in the register of
DIVIDENDS AND OTHER DISTRIBUTIONS 30 - Procedure for Declaring Dividends
30.—(1) The company
may by ordinary resolution declare dividends, and the directors may decide to
pay interim dividends.
(2) A dividend must
not be declared unless the directors have made a recommendation as to its amount.
Such a dividend must not exceed the amount recommended by the directors.
(3) No dividend may
be declared or paid unless it is in accordance with shareholders’ respective rights.
shareholders’ resolution to declare or directors’ decision to pay a dividend,
or the terms on which shares are issued, specify otherwise, it must be paid by
reference to each shareholder’s holding of shares on the date of the resolution
or decision to declare or pay it.
company’s share capital is divided into different classes, no interim dividend
may be paid on shares carrying deferred or non-preferred rights if, at the time
of payment, any preferential dividend is in arrear.
(6) The directors
may pay at intervals any dividend payable at a fixed rate if it appears to them
that the profits available for distribution justify the payment.
directors act in good faith, they do not incur any liability to the holders of
preferred rights for any loss they may suffer by the lawful payment of an
interim dividend on shares with deferred or non-preferred rights.
31.—(1) Where a
dividend or other sum which is a distribution is payable in respect of a share,
it must be paid by one or more of the following means:
(a) transfer to a bank or building society account specified by the
distribution recipient either in writing or as the directors may otherwise
(b) sending a cheque made payable to the distribution recipient by post
to the distribution recipient at the distribution recipient’s registered
address (if the distribution recipient is a holder of the share), or (in any other
case) to an address specified by the distribution recipient either in writing
or as the directors may otherwise decide;
(c) sending a cheque made payable to such person by post to such person
at such address as the distribution recipient has specified either in writing
or as the directors may otherwise decide; or
(d) any other means of payment as the directors agree with the
distribution recipient either in writing or by such other means as the
directors decide.
articles, “the distribution recipient” means, in respect of a share in respect
of which a dividend or other sum is payable
(b) if the share has two or more joint holders, whichever of them is
named first in the register of members; or
(c) if the holder is no longer entitled to the share by reason of death
or bankruptcy, or otherwise by operation of law, the transmittee.
32. The company may not
pay interest on any dividend or other sum payable in respect of a share unless
otherwise provided by:
(b) the provisions of another agreement between the holder of that share
33.—(1) All dividends
or other sums which are:
may be invested or otherwise made use of by the directors for the
benefit of the company until claimed.
(2) The payment of
any such dividend or other sum into a separate account does not make the company
a trustee in respect of it.
(a) twelve years have passed from the date on which a dividend or other
sum became due for payment, and
recipient is no longer entitled to that dividend or other sum and it ceases to
remain owing by the company.
34.—(1) Subject to the
terms of issue of the share in question, the company may, by ordinary resolution
on the recommendation of the directors, decide to pay all or part of a dividend
or other distribution payable in respect of a share by transferring non-cash
assets of equivalent value (including, without limitation, shares or other
securities in any company).
purposes of paying a non-cash distribution, the directors may make whatever
arrangements they
think fit, including, where any difficulty arises regarding the distribution:
(b) paying cash to any distribution recipient on the basis of that value
in order to adjust the rights of recipients; and
recipients may waive their entitlement to a dividend or other distribution payable in respect
of a share by giving the company notice in writing to that effect, but if:
(b) more than one person is entitled to the share, whether by reason of
the death or bankruptcy of one or more joint holders, or otherwise, the notice is not
effective unless it is expressed to be given, and signed, by all the holders or
persons otherwise entitled to the share.
CAPITALISATION OF PROFITS 36 - Authority to Capitalise and Appropriation of Capitalised Sums
36.—(1) Subject to the
articles, the directors may, if they are so authorised by an ordinary resolution:
(a) decide to capitalise any profits of the company (whether or not they
are available for distribution) which are not required for paying a
preferential dividend, or any sum standing to the credit of the company’s share
premium account or capital redemption reserve; and
(b) appropriate any sum which they so decide to capitalise (a
“capitalised sum”) to the persons who would have been entitled to it if it were
distributed by way of dividend (the “persons entitled”) and in the same
(2) Capitalised
sums must be applied:
(b) in the same proportions as a dividend would have been distributed to
(3) Any capitalised
sum may be applied in paying up new shares of a nominal amount equal to the
capitalised sum which are then allotted credited as fully paid to the persons
entitled or as they may direct.
(4) A capitalised
sum which was appropriated from profits available for distribution may be applied
in paying up new debentures of the company which are then allotted credited as
fully paid to the persons entitled or as they may direct.
(5) Subject to the
articles the directors may:
(a) apply capitalised sums in accordance with paragraphs (3) and (4)
partly in one way and partly in another;
(b) make such arrangements as they think fit to deal with shares or
debentures becoming distributable in fractions under this article (including
the issuing of fractional certificates or the making of cash payments); and
(c) authorise any person to enter into an agreement with the company on
behalf of all the persons entitled which is binding on them in respect of the
allotment of shares and debentures to them under this article.
PART 4 - DECISION-MAKING BY
ORGANISATION OF GENERAL
MEETINGS 37 - Attendance and Speaking at General Meetings
37.—(1) A person is
able to exercise the right to speak at a general meeting when that person is in
a position to communicate to all those attending the meeting, during the
meeting, any information or opinions which that person has on the business of
able to exercise the right to vote at a general meeting when:
(a) that person is able to vote, during the meeting, on resolutions put
to the vote at the meeting, and (b) that person’s vote can be taken into account in determining whether
or not such resolutions are passed at the same time as the votes of all the other
may make whatever arrangements they consider appropriate to enable those attending
a general meeting to exercise their rights to speak or vote at it.
(4) In determining
attendance at a general meeting, it is immaterial whether any two or more members
attending it are in the same place as each other.
(5) Two or more
persons who are not in the same place as each other attend a general meeting if
their circumstances are such that if they have (or were to have) rights to
speak and vote at that meeting, they are (or would be) able to exercise them.
38. No business other
than the appointment of the chairman of the meeting is to be transacted at a
general meeting if the persons attending it do not constitute a quorum. 39 - Chairing General Meetings
39.—(1) If the
directors have appointed a chairman, the chairman shall chair general meetings
if present and willing to do so.
directors have not appointed a chairman, or if the chairman is unwilling to
chair the meeting or is not present within ten minutes of the time at which a
meeting was due to start:
(b) (if no directors are present), the meeting, must appoint a
director or shareholder to chair the meeting, and the appointment of the
chairman of the meeting must be the first business of the meeting.
(3) The person
chairing a meeting in accordance with this article is referred to as “the
chairman of the meeting”.
40.—(1) Directors may
attend and speak at general meetings, whether or not they are shareholders.
(2) The chairman of
the meeting may permit other persons who are not:
(b) otherwise entitled to exercise the rights of shareholders in
relation to general meetings, to attend and speak
at a general meeting.
41 - Adjournment 41.—(1) If the persons
attending a general meeting within half an hour of the time at which the meeting
was due to start do not constitute a quorum, or if during a meeting a quorum
ceases to be present, the chairman of the meeting must adjourn it.
the meeting may adjourn a general meeting at which a quorum is present if:
(b) it appears to the chairman of the meeting that an adjournment is
necessary to protect the safety of any person attending the meeting or ensure
that the business of the meeting is conducted in an orderly manner.
(3) The chairman of
the meeting must adjourn a general meeting if directed to do so by the meeting.
(4) When adjourning
a general meeting, the chairman of the meeting must:
(a) either specify the time and place to which it is adjourned or state
that it is to continue at a time and place to be fixed by the directors, and
(b) have regard to any directions as to the time and place of any
adjournment which have been given by the meeting.
continuation of an adjourned meeting is to take place more than 14 days after
it was adjourned, the company must give at least 7 clear days’ notice of it
(that is, excluding the day of the adjourned meeting and the day on which the
notice is given):
(a) to the same persons to whom notice of the company’s general meetings
is required to be given, and
(b) containing the same information which such notice is required to
(6) No business may be transacted at an adjourned general meeting which
could not properly have been transacted at the meeting if the adjournment had
not taken place. VOTING AT GENERAL MEETINGS
42 - Voting: General 42. A resolution put to
the vote of a general meeting must be decided on a show of hands unless a poll
is duly demanded in accordance with the articles. 43 - Errors and Disputes
43.—(1) No objection
may be raised to the qualification of any person voting at a general meeting except at
the meeting or adjourned meeting at which the vote objected to is tendered, and
every vote not disallowed at the meeting is valid.
(2) Any such
objection must be referred to the chairman of the meeting, whose decision is
44.—(1) A poll on a
resolution may be demanded:
(a) in advance of the general meeting where it is to be put to the vote,
(b) at a general meeting, either before a show of hands on that
resolution or immediately after the result of a show of hands on that
resolution is declared.
(2) A poll may be
(d) a person or persons representing not less than one tenth of the
total voting rights of all the shareholders having the right to vote on the
(3) A demand for a
poll may be withdrawn if:
(4) Polls must be
taken immediately and in such manner as the chairman of the meeting directs.
45 - Content of Proxy Notices 45.—(1) Proxies may
only validly be appointed by a notice in writing (a “proxy notice”) which:
(b) identifies the person appointed to be that shareholder’s proxy and
the general meeting in relation to which that person is appointed;
(c) is signed by or on behalf of the shareholder appointing the proxy,
or is authenticated in such manner as the directors may determine; and
(d) is delivered to the company in accordance with the articles and any
instructions contained in the notice of the general meeting to which they
require proxy notices to be delivered in a particular form, and may specify different
forms for different purposes.
(3) Proxy notices
may specify how the proxy appointed under them is to vote (or that the proxy is
to abstain from voting) on one or more resolutions.
(4) Unless a proxy
notice indicates otherwise, it must be treated as:
(a) allowing the person appointed under it as a proxy discretion as to
how to vote on any ancillary or procedural resolutions put to the meeting, and
(b) appointing that person as a proxy in relation to any adjournment of
the general meeting to which it relates as well as the meeting itself.
46.—(1) A person who
is entitled to attend, speak or vote (either on a show of hands or on a poll)
at a general meeting remains so entitled in respect of that meeting or any
adjournment of it, even though a valid proxy notice has been delivered to the
company by or on behalf of that person.
(2) An appointment
under a proxy notice may be revoked by delivering to the company a notice in
writing given by or on behalf of the person by whom or on whose behalf the
proxy notice was given.
revoking a proxy appointment only takes effect if it is delivered before the
start of the meeting or adjourned meeting to which it relates.
(4) If a proxy
notice is not executed by the person appointing the proxy, it must be
accompanied by written evidence of the authority of the person who executed it
to execute it on the appointor’s behalf.
47 - Amendments to Resolutions 47.—(1) An ordinary
resolution to be proposed at a general meeting may be amended by ordinary
resolution if:
(a) notice of the proposed amendment is given to the company in writing
by a person entitled to vote at the general meeting at which it is to be
proposed not less than 48 hours before the meeting is to take place (or such
later time as the chairman of the meeting may determine), and (b) the proposed amendment does not, in the reasonable opinion of the
chairman of the meeting, materially alter the scope of the resolution.
(2) A special
resolution to be proposed at a general meeting may be amended by ordinary resolution,
(a) the chairman of the meeting proposes the amendment at the general
meeting at which the resolution is to be proposed, and
(b) the amendment does not go beyond what is necessary to correct a
grammatical or other non-substantive error in the resolution.
(3) If the chairman
of the meeting, acting in good faith, wrongly decides that an amendment to a resolution
is out of order, the chairman’s error does not invalidate the vote on that
48.—(1) Subject to the
articles, anything sent or supplied by or to the company under the articles may
be sent or supplied in any way in which the Companies Act 2006 provides for
documents or information which are authorised or required by any provision of
that Act to be sent or supplied by or to the company.
(2) Subject to the
articles, any notice or document to be sent or supplied to a director in connection with the
taking of decisions by directors may also be sent or supplied by the means by which
that director has asked to be sent or supplied with such notices or documents
(3) A director may
agree with the company that notices or documents sent to that director in a particular
way are to be deemed to have been received within a specified time of their
being sent, and for the specified time to be less than 48 hours.
49 - Company Seals 49.—(1) Any common
seal may only be used by the authority of the directors.
may decide by what means and in what form any common seal is to be used.
otherwise decided by the directors, if the company has a common seal and it is affixed to a
document, the document must also be signed by at least one authorised person in
the presence of a witness who attests the signature.
purposes of this article, an authorised person is:
(c) any person authorised by the directors for the purpose of signing
documents to which the common seal is applied.
50 - No Right to Inspect Accounts and Other Records 50. Except as provided
by law or authorised by the directors or an ordinary resolution of the company,
no person is entitled to inspect any of the company’s accounting or other
records or documents merely by virtue of being a shareholder.
51 - Provision for Employees on Cessation of Business 51. The directors may
decide to make provision for the benefit of persons employed or formerly employed
by the company or any of its subsidiaries (other than a director or former
director or shadow director) in connection with the cessation or transfer to
any person of the whole or part of the undertaking of the company or that
52.—(1) Subject to
paragraph (2), a relevant director of the company or an associated company may
be indemnified out of the company’s assets against:
(a) any liability incurred by that director in connection with any
negligence, default, breach of duty or breach of trust in relation to the company
or an associated company,
(b) any liability incurred by that director in connection with the
activities of the company or an associated company in its capacity as a trustee
of an occupational pension scheme (as defined in section 235(6) of the Companies
Act 2006),
(c) any other liability incurred by that director as an officer of the
company or an associated company.
(2) This article
does not authorise any indemnity which would be prohibited or rendered void by any
provision of the Companies Acts or by any other provision of law.
(a) companies are associated if one is a subsidiary of the other or both
(b) a “relevant director” means any director or former director of the
company or an associated company. 53 - Insurance
53.—(1) The directors
may decide to purchase and maintain insurance, at the expense of the company,
for the benefit of any relevant director in respect of any relevant loss.
(2) In this
(a) a “relevant director” means any director or former director of the
company or an associated company,
(b) a “relevant loss” means any loss or liability which has been or may
be incurred by a relevant director in connection with that director’s duties or
powers in relation to the company, any associated company or any pension fund
or employees’ share scheme of the company or associated company, and
(c) companies are associated if one is a subsidiary of the other or both
are subsidiaries of the same body corporate.