Source: http://www.legislation.gov.uk/nisi/1986/1032
Timestamp: 2013-12-09 20:03:40
Document Index: 260803764

Matched Legal Cases: ['Art. 2', 'art. 8', 'Art. 2', 'art. 8', 'Art. 2', 'art. 5', 'Art. 2', 'art. 8', 'Art. 2', 'art. 8', 'Art 2', 'art. 2', 'art. 292', 'Art. 2', 'art. 8', 'art. 2', 'Art. 2', 'art. 2', 'art. 2', 'Art. 2', 'Art. 2', 'art 6', 'Art. 9', 'art. 12', 'art 15', 'art. 10', 'art. 10', 'Art. 10', 'art. 8', 'art. 8', 'art. 8', 'Art. 17', 'Art. 21', 'art. 21', 'art. 22', 'art. 24', 'art. 28', 'art. 36', 'art. 11', 'art. 36', 'art. 11', 'Art. 36', 'Art. 37', 'art. 11', 'Art. 39', 'art. 7', 'art. 40', 'art. 11', 'art. 41', 'art. 12', 'Art. 41', 'art. 12', 'Art. 44', 'art. 11', 'art. 5', 'Art. 45', 'Art. 45', 'Art. 46', 'art. 8', 'art. 8', 'art. 46', 'art. 8', 'art. 8', 'Art. 51', 'art. 4', 'art. 5', 'Art. 52', 'art. 7', 'art. 53', 'art. 11', 'art. 53']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchThe Companies (Northern Ireland) Order 1986You are here:1986 No. 1032 (N.I. 6)Whole OrderTable of ContentsContentMore ResourcesPreviousNextPlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As made)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of ChangesOpening OptionsOpen whole OrderOpen Order without schedulesOpen Schedules onlyStatus:This version of this Order contains provisions that are prospective.Changes to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Companies (Northern Ireland) Order 1986. Any changes that have already been made by the team appear in the content and are referenced with annotations.N.I.Statutory Instruments1986 No. 1032 (N.I. 6)The Companies (Northern Ireland) Order 198623 June 1986 F1Annotations:F1Order repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16 and the repeal being partly in force, as to which see individual Articles (with savings (with adaptations) by Companies Act 2006 (Commencement No. 6, Saving and Commencement Nos. 3 and 5 (Amendment)) Order 2008 (S.I. 2008/674), arts. 2(3), {4}, Sch. 2) and subject to amendments (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b)(2), Sch. 1 paras. 135, 147, 148 {Sch. 2 Note 1} (with arts. 6, 11, 12) and subject to amendments (6.4.2008) by S.R. 2008/133, {regs. 2, 3}Modifications etc. (not altering text)C1Order modified (1.1.2007) by Water and Sewerage Services (Northern Ireland) Order 2006 (S.I. 2006/3336 (N.I. 21)), arts. 1(3)(c), 271(5) (with arts. 8(8), 121(3), 307)PART IN.I.INTRODUCTORY AND INTERPRETATIONTitle and commencementN.I.1. (1) This Order may be cited as the Companies (Northern Ireland) Order 1986.
(2) F2. . . this Order comes into operation on the expiration of three months from the day on which it is made.
Annotations:F21990 NI 5General interpretationN.I.2. (1) The [1954 c.33 (N.I.)] Interpretation Act (Northern Ireland) 1954 applies to Article 1 and the following provisions of this Order as it applies to a Measure of the Northern Ireland Assembly.
(3 )F3 In this Order—
[F5“communication” means the same as in the Electronic Communications Act (Northern Ireland) 2001;]
“the Companies Orders” means this Order, the[F6 insider dealing legislation] and the consequential Provisions Order;
[F8F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
[F5“electronic communication” means the same as in the Electronic Communications Act (Northern Ireland) 2001;]
[F6“the insider dealing legislation” means Part V of the Criminal Justice Act 1993 (insider dealing);]
“the Insolvency Account” means the account kept by the Department under[F11 Article 358 of the Insolvency Order];
[F13“prospectus issued generally” means a prospectus issued to persons who are not existing members of the company or holders of its debentures;]
[F14regulated activity has the meaning given in section 22 of the Financial Services and Markets Act 2000;]
(a)a bankrupt who has not obtained the certificate of conformity mentioned in section 56 of the [1872 c.58] Bankruptcy (Ireland) Amendment Act 1872;
(b)a bankrupt who has not been discharged from his bankruptcy by an absolute order of discharge under Article 28 or 30 of the [1980 NI 4] Bankruptcy Amendment (Northern Ireland) Order 1980[F11 or Article 254 of the Insolvency Order], or by virtue of the expiration of the period or the satisfaction of any requirement specified in a suspended or conditional order of discharge under[F11 any] of those Articles, or by virtue of Article 29(2) or (4) (automatic discharge) of that Order[F11 of 1980 or of Article 253 (duration of discharge) of the Insolvency Order];
(c)a person who is an undischarged bankrupt under the law of England or Scotland;
Annotations:F3mod. by SR 2004/307F4Art. 2: definition of "authorised minimum" repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)F5SR 2003/3F61993 c.36F7Art. 2: definition of "debenture" repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)F8SR 2004/263F9Art. 2: definition of "EEA State" repealed (6.4.2007) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/1093, art. 5, Sch. 2 Pt. 2 (with arts. 8, 11(1), Sch. 6 para. 1)F10Art. 2: definition of "insurance market activity" repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)F111989 NI 19F12Art. 2: definition of "prescribed" repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)F13Art 2: definition of "prospectus issued generally" repealed (29.4.1988 for certain purposes, otherwise prosp.) by Financial Services Act 1986 (c. 60), s. 212(3), Sch. 17 Pt. II; S.I. 1988/740, art. 2, Sch. (N.B. 1986 c. 60 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(c) (with art. 292))F14SI 2001/3649F15Art. 2: definition of "undistributable reserves" repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12){prosp. insertion of 2nd art. 2A by 1990 NI10}N.I.Annotations:F16Art. 2A (new) prosp. insertion by 1990 NI10F17SI 2001/3649 amending art. 2A which was inserted prosp. by 1990 NI 10F18SR 2003/3 amending art. 2A which was inserted prosp. by 1990 NI 10F19SR 2004/263 amending Art. 2A which was inserted prosp. by 1990 NI 10F20SR 2004/496 5 amendments to be made amending Art. 2A which was inserted prosp. by 1990 NI 10F21mod. by SR 2004/307[F22Relationship of this Order to Insolvency OrderN.I.2A. (1 )F23 In this Order “the Insolvency Order” means the Insolvency (Northern Ireland) Order 1989.
(2) In Articles 383(1)(b), 418(5)(a),F24. . . 453(2), 625, 626, 627 and 676 and paragraph 6(1) of Schedule 20 the words “this Order” are to be read as including Parts II to VII and Articles 359 to 362 of the Insolvency Order[F25 and the Company Directors Disqualification (Northern Ireland) Order 2002]
(3) In Articles[F26 653(4) and (5)], 655(1),[F27 656B],[F24 656A(1),] 657(1)(a) and (3),[F24 658(1) and (3),][F24 659A], 662(1), 677 and 680(3) references to the Companies Orders include Parts II to VII and Articles 359 to 362 of the Insolvency Order[F25 and the Company Directors Disqualification (Northern Ireland) Order 2002].]
Annotations:F221989 NI 19F23mod. by SR 2004/307F241990 NI 10F252002 NI 4F261996 NI 11F27SR 2003/3[F28Relationship of this Order to Parts IV and V of the Financial Services Act 1986N.I.2B. In Articles[F29 653(4) and (5)], 655(1), 656(1), 656A(1), 657(1)(a) and (3), 658(1) and (3), 659A and 662(1) references to the Companies Orders include[F30 Part 6 of the Financial Services and Markets Act 2000].]
Annotations:F281990 NI 10F291996 NI 11F30SI 2001/3649“Company”, etc.N.I.3. (1) In this Order—
[F31“ Subsidiary ”, “ holding company ” and “ wholly-owned subsidiary ”N.I.4. (1 )F32 A company is a “subsidiary” of another company, its “holding company”, if that other company—
F32(2 )F32 A company is a “wholly-owned subsidiary” of another company if it has no members except that other and that other's wholly-owned subsidiaries or persons acting on behalf of that other or its wholly-owned subsidiaries.
Annotations:F311990 NI 10F32mod. by SR 2004/307[F33Provisions supplementing Article 4N.I.4A. (1) The provisions of this Article explain expressions used in Article 4 and otherwise supplement that Article.
F34(2) In Article 4(1)(a) and (c) the references to the voting rights in a company are to the rights conferred on shareholders in respect of their shares or, in the case of a company not having a share capital, on members, to vote at general meetings of the company on all, or substantially all, matters.
F34(3) In Article 4(1)(b) the reference to the right to appoint or remove a majority of the board of directors is to the right to appoint or remove directors holding a majority of the voting rights at meetings of the board on all, or substantially all, matters; and for the purposes of that provision—
(7 )F34 Rights attached to shares held by way of security shall be treated as held by the person providing the security—
(8 )F34 Rights shall be treated as held by a company if they are held by any of its subsidiaries; and nothing in paragraph (6) or (7) shall be construed as requiring rights held by a company to be treated as held by any of its subsidiaries.
(9 )F34 For the purposes of paragraph (7) rights shall be treated as being exercisable in accordance with the instructions or in the interests of a company if they are exercisable in accordance with the instructions of or, as the case may be, in the interests of—
(10 )F34 The voting rights in a company shall be reduced by any rights held by the company itself.
(12 )F34 In this Article “company” includes any body corporate.]
Annotations:F331990 NI 10F34mod. by SR 2004/307[F35Power to amend Articles 4 and 4AN.I.4B. (1) The Department may by regulations amend Articles 4 and 4A so as to alter the meaning of the expressions “holding company”, “subsidiary” or “wholly-owned subsidiary”.
Annotations:F351990 NI 10“Called-up share capital”N.I.5. (1) In this Order, “called-up share capital”, in relation to a company, means so much of its share capital as equals the aggregate amount of the calls made on its shares (whether or not those calls have been paid), together with any share capital paid up without being called and any share capital to be paid on a specified future date under its articles, the terms of allotment of the relevant shares or any other arrangements for payment of those shares.
“Allotment” and “paid up”N.I.6. (1) In relation to an allotment of shares in a company, the shares are to be taken for the purposes of this Order to be allotted when a person acquires the unconditional right to be included in the company's register of members in respect of those shares.
“Non-cash asset”N.I.7 .F36 (1) In this Order “non-cash asset” means any property or interest in property other than cash; and for this purpose “cash” includes foreign currency.
Annotations:F36mod. by SR 2004/307“Body corporate” and “corporation”N.I.8 .F37 References in this Order to a body corporate or to a corporation do not include a corporation sole, but include a company incorporated elsewhere than in Northern Ireland.
Annotations:F37mod. by SR 2004/307“Director” and “shadow director”N.I.9. F38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:F38Art. 9 repealed (1.10.2007) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/2194, arts. 1(3)(a), 8, Sch. 2 Pt. 2 (with art. 12)[F39Expressions used in connection with accountsN.I.10 .F40 (1) In this Order the following expressions have the same meaning as in [F41Part 15 of the Companies Act 2006 (accounts and reports)]—
[F42“Companies Order accounts”]
[F42“Companies Order individual accounts”]
[F42“IAS accounts”]
[F42“IAS individual accounts”]
(2) References in this Order to “realised profits” and “realised losses”, in relation to a company's accounts, shall be construed in accordance with [F43section 853(4) and (5) of the Companies Act 2006].
(3) F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Annotations:F391990 NI 5F40mod. by SR 2004/307F41Words in art. 10(1) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 112(a) (with arts. 6, 11, 12)F42SR 2004/496F43Words in art. 10(2) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 112(b) (with arts. 6, 11, 12)F44Art. 10(3) repealed (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b)(2), Sch. 1 para. 112(c), Sch. 2 (with arts. 6, 11, 12)[F45Meaning of “offer to the public”N.I.10A. F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Annotations:F45SI 2001/3649F46Arts. 10A-10C repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)Meaning of “banking company”N.I.10B F47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:F47Arts. 10A-10C repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)Meaning of “insurance company” and “authorised insurance company”N.I.10C F48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F49
Annotations:F48Arts. 10A-10C repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12)F49SI 2001/3649“Employees' share scheme”N.I.11. For the purposes of this Order, an employees' share scheme is a scheme for encouraging or facilitating the holding of shares or debentures in a company by or for the benefit of—
(b)the[F50 spouses, civil partners, surviving spouses, surviving civil partners] or children, step-children or adopted children under the age of 18 of such employees or former employees.
Annotations:F502004 c.33PART IIN.I.FORMATION AND REGISTRATION OF COMPANIES; JURIDICAL STATUS AND MEMBERSHIPCHAPTER IN.I.COMPANY FORMATIONMemorandum of associationN.I.Mode of forming incorporated companyN.I.12. (1) Any two or more persons associated for a lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the requirements of this Order in respect of registration, form an incorporated company, with or without limited liability.
[F51(3A) Notwithstanding paragraph (1), one person may, for a lawful purpose, by subscribing his name to a memorandum of association and otherwise complying with the requirements of this Order in respect of registration, form an incorporated company being a private company limited by shares or by guarantee.]
Annotations:F51SR 1992/405Requirements with respect to memorandumN.I.13. (1) The memorandum of every company must state—
(5) [F52Subject to paragraph (5A), the memorandum] must be signed by each subscriber in the presence of at least one witness, who must attest the signature.
[F52(5A) Where the memorandum is delivered to the registrar otherwise than in legible form and is authenticated by each subscriber in such manner as is directed by the registrar, the requirements in paragraph (5) for signature in the presence of at least one witness and for attestation of the signature do not apply.]
Annotations:F52SR 2003/3Forms of memorandumN.I.14. Subject to the provisions of Articles 12 and 13, the form of the memorandum of association of—
[F53Statement of company's objects: general commercial companyN.I.14A. Where the company's memorandum states that the object of the company is to carry on business as a general commercial company—
Annotations:F531990 NI 10[F54Resolution to alter objectsN.I.15. (1) A company may by special resolution alter its memorandum with respect to the statement of the company's objects.
Annotations:F541990 NI 10Procedure for objecting to alterationN.I.16. (1) Where a company's memorandum has been altered by special resolution under Article 15, application may be made to the court for the alteration to be cancelled.
[F55(7A) For the purposes of paragraph (2)(a), any of the company's issued share capital held as treasury shares must be disregarded.]
Annotations:F55SR 2004/275Provisions supplementing Articles 15 and 16N.I.17. (1) Where a company passes a resolution altering its objects, then—
Annotations:Modifications etc. (not altering text)C2Art. 17(3) applied (prosp.) by Charities Act (Northern Ireland) 2008 (c. 12), ss. 96(6), 185(1)Articles of associationN.I.Annotations:F57prosp. insertion by 1990 NI 10Regulation of companies by articles of associationN.I.18. (1) There may in the case of a company limited by shares, and there shall in the case of a company limited by guarantee or unlimited, be registered with the memorandum articles of association signed by the subscribers to the memorandum and making regulations for the company.
(c)[F56subject to paragraph (4),] be signed by each subscriber of the memorandum in the presence of at least one witness who must attest the signature.
[F56(4) Where the articles are delivered to the registrar otherwise than in legible form and are authenticated by each subscriber to the memorandum in such manner as is directed by the registrar, the requirements in paragraph (3)(c) for signature in the presence of at least one witness and for attestation of the signature do not apply.]
Annotations:F56SR 2003/3Tables A, C, D and EN.I.19. (1) Table A is as prescribed by regulations made by the Department; and a company may for its articles adopt the whole or any part of that Table.
F57Alteration of articles by special resolutionN.I.20. (1) Subject to the provisions of this Order and to the conditions contained in its memorandum, a company may by special resolution alter its articles.
Registration and its consequencesN.I.Documents to be sent to registrarN.I.21. (1) A company's memorandum and articles (if any) shall be delivered to the registrar.
[F58(ba)in the case of a company that is to be a private company, any person who is (or any persons who are) to be the first secretary (or joint secretaries) of the company;
Annotations:F58Art. 21(2)(ba)(bb) substituted (6.4.2008) for art. 21(2)(b) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 113 (with arts. 6, 11, 12)Minimum authorised capital (public companies)N.I.22. When a memorandum delivered to the registrar under Article 21 states that the association to be registered is to be a public company,[F59 the share capital stated in the memorandum to be that with which the company proposes to be registered—
Annotations:F59Words in art. 22 substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 114 (with arts. 6, 11, 12)Duty of registrarN.I.23. (1) The registrar shall not register a company's memorandum delivered under Article 21 unless he is satisfied that all the requirements of this Order in respect of registration and of matters precedent and incidental to it have been complied with.
(3) [F60Subject to paragraph (4), a statutory declaration] in the prescribed form by—
[F60(4) In place of the statutory declaration referred to in paragraph (3), there may be delivered to the registrar using electronic communications a statement made by a person mentioned in sub-paragraph (a) or (b) of paragraph (3) that the requirements mentioned in paragraph (1) have been complied with; and the registrar may accept such a statement as sufficient evidence of compliance.
Annotations:F60SR 2003/3Effect of registrationN.I.24. (1) On the registration of a company's memorandum, the registrar shall give a certificate that the company is incorporated and, in the case of a limited company, that it is limited.
(4) That body corporate is then capable forthwith of exercising all the functions of an incorporated company, but with such liability on the part of its members to contribute to its assets in the event of its being wound up as is provided by this Order[F61 and the Insolvency Order].
This is subject, in the case of a public company, to [F62section 761 of the Companies Act 2006 (public company not to do business without trading certificate)].
Annotations:F611989 NI 19F62Words in art. 24(4) substituted (6.4.2008) by virtue of Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 115 (with arts. 6, 11, 12)Effect of memorandum and articlesN.I.25. (1) Subject to the provisions of this Order, the memorandum and articles, when registered, bind the company and its members to the same extent as if they respectively had been signed and sealed by each member, and contained covenants on the part of each member to observe all the provisions of the memorandum and of the articles.
Memorandum and articles of company limited by guaranteeN.I.26. (1) In the case of a company limited by guarantee and not having a share capital, every provision in the memorandum or articles, or in any resolution of the company purporting to give any person a right to participate in the divisible profits of the company otherwise than as a member, is void.
Effect of alteration on company's membersN.I.27. (1) A member of a company is not bound by an alteration made in its memorandum or articles after the date on which he became a member, if and so far as the alteration—
Conditions in memorandum which could have been in articlesN.I.28. (1) A condition contained in a company's memorandum which could lawfully have been contained in articles of association instead of in the memorandum may be altered by the company by special resolution; but if an application is made to the court for the alteration to be cancelled, the alteration does not have effect except in so far as it is confirmed by the court.
(a)is subject to Article 27, and also to [F63section 996 of the Companies Act 2006] (court order protecting minority), and
Annotations:F63Words in art. 28(2)(a) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 116 (with arts. 6, 11, 12)Amendments of memorandum or articles to be recordedN.I.29. F64(1) Where an alteration is made in a company's memorandum or articles by any statutory provision, a printed copy of the statutory provision shall, not later than 15 days after that provision comes into operation, be forwarded to the registrar and recorded by him.
Annotations:F64mod. by SR 1986/305Copies of memorandum and articles to be given to membersN.I.30. (1) A company shall, on being so required by any member, send to him a copy of its memorandum and of its articles (if any), and a copy of any statutory provision which alters the memorandum, subject to payment—
Issued copy of memorandum to embody alterationsN.I.31. (1) Where an alteration is made in a company's memorandum, every copy of the memorandum issued after the date of the alteration shall be in accordance with the alteration.
A company's membershipN.I.Definition of “member”N.I.32. (1) The subscribers of a company's memorandum are deemed to have agreed to become members of the company, and on its registration shall be entered as such in its register of members.
[F65Membership of holding companyN.I.33. (1) Except as mentioned in this Article, a body corporate cannot be a member of a company which is its holding company and any allotment or transfer of shares in a company to its subsidiary is void.
[F66(3) The prohibition does not apply where shares in the holding company are held by the subsidiary in the ordinary course of its business as an intermediary.
(b)on or after that date and before[F66 2nd August 2004], in circumstances in which this Article as it then had effect did not apply,
but at any time[F66 on or after 2nd August 2004] falls within the prohibition in paragraph (1) in respect of those shares, it may continue to be a member of that company; but for so long as that prohibition would apply, apart from this paragraph, it has no right to vote in respect of those shares at meetings of the company or of any class of its members.
(5) Where a body corporate becomes a holder of shares in a company[F66 on or after 2nd August 2004.] in circumstances in which the prohibition in paragraph (1) does not apply, but subsequently falls within that prohibition in respect of those shares, it may continue to be a member of that company; but for so long as that prohibition would apply, apart from this paragraph, it has no right to vote in respect of those shares at meetings of the company or of any class of its members.
Annotations:F651990 NI 10F66SR 2004/263Minimum membership for carrying on businessN.I.34 .F67 [F68(1)] If a company[F69, other than a private company limited by shares or by guarantee,] carries on business without having at least two members and does so for more than 6 months, a person who, for the whole or any part of the period that it so carries on business after those 6 months—
[F68(2) For the purposes of this Article references to a member of a company do not include the company itself where it is such a member only by virtue of its holding shares as treasury shares.]]
Annotations:F67mod. by SR 2004/307F68SR 2004/275F69SR 1992/405CHAPTER IIN.I.COMPANY NAMESName as stated in memorandumN.I.35. (1) The name of a public company must end with the words “public limited company” and those words may not be preceded by the word “limited”.
Prohibition on registration of certain namesN.I.36. (1) A company shall not be registered under this Order by a name—
(a)which includes, otherwise than at the end of the name, any of the following words or expressions, that is to say, “limited”, “unlimited”[F70, “public limited company”, “community interest company” or “community interest public limited company”];
[F71(bb)which includes, at any place in the name, the expression “investment company with variable capital” or “open‐ended investment company”;]
[F72(bbb)which includes, at any place in the name, the expression “limited liability partnership”;]
“company”, “and company”, “company limited”, “and company limited”, “limited”, “unlimited”F73. . . “public limited company”[F74, “community interest company”, “community interest public limited company”,][F73F71. . . “investment company with variable capital”;][F71 and open‐ended investment company]
Annotations:F70Words in art. 36(1)(a) substituted (6.4.2007) by Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), arts. 1(3), 6(2), Sch. 4 para. 48(a) (with art. 11(1))F71SR 2004/335F72SR 2004/307F73SR 1997/251F74Words in art. 36(3)(b) inserted (6.4.2007) by Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), arts. 1(3), 6(2), Sch. 4 para. 48(b) (with art. 11(1))Modifications etc. (not altering text)C3Art. 36(3) applied (with modifications) (prosp.) by Charities Act (Northern Ireland) 2008 (c. 12), ss. 20(7), 185(1)Alternatives of statutory designationsN.I.37. (1) A company which by any provision of this Order is either required or entitled to include in its name, as the last part, any of the words specified in paragraph (4) may, instead of those words, include as the last part of its name the abbreviations there specified as alternatives in relation to those words.
(b)the alternative of “public limited company” is “p.l.c.”[F75; and
Annotations:F75Art. 37(4)(c)(d) and preceding word inserted (6.4.2007) by Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), arts. 1(3), 6(2), Sch. 4 para. 49 (with art. 11(1))Change of nameN.I.38. (1) A company may by special resolution change its name (but subject to Article 41 in the case of a company which has received a direction under paragraph (2) of that Article from the Department).
Regulations about namesN.I.39. [F76(1) The Department may by regulations—
(a)in the case of a company seeking to be registered under this Part, the person making the statutory declaration[F77 under Article 23(3) or statement under Article 23(4) (as the case may be)],
(b)in the case of a company seeking to be registered under Article 629, the persons making the statutory declaration[F77 under Article 635(2) or statement under Article 635(2A) (as the case may be)], and
(a)the requisite statutory declaration[F77 or statement], or
Annotations:F76Art. 39 repealed (1.1.2007 for certain purposes, otherwise prosp.) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2006/3428, art. 7(a), Sch. 2 Pt. 2 (with arts. 6, 8, Sch. 5)F77SR 2003/3Exemption from requirement of “limited” as part of the nameN.I.40. (1) Certain companies are exempt from requirements of this Order relating to the use of the word “limited” as part of the company name.
(4) [F78Subject to paragraph (5A), a statutory declaration] that a company complies with the requirements of paragraph (3) may be delivered to the registrar, who may accept the declaration as sufficient evidence of the matters stated in itF78. . . .
[F78(5A) In place of the statutory declaration referred to in paragraph (4), there may be delivered to the registrar using electronic communications a statement made by a person falling within the applicable sub-paragraph of paragraph (5) stating that the company complies with the requirements of paragraph (3); and the registrar may accept such a statement as sufficient evidence of the matters stated in it.
(7) A company which[F79 under this Article] is exempt from requirements relating to the use of the word “limited” and does not include that word as part of its name, is also exempt from the requirements of this Order relating to the publication of its name and the sending of lists of members to the registrar.
Annotations:F78SR 2003/3F79Words in art. 40(7) inserted (6.4.2007) by Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), arts. 1(3), 6(2), Sch. 4 para. 50 (with art. 11(1))Provisions applying to company exempt under Article 40N.I.41. (1) A company which is exempt under Article 40 and whose name does not include the word “limited” shall not alter its memorandum or articles so that it ceases to comply with the requirements of paragraph (3) of that Article.
[F81(2A) Where such a resolution is passed by the directors, the company must give notice to the registrar of the change.
Annotations:F80Words in art. 41(2) omitted (1.10.2007) by virtue of Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3)(a), 10(1), Sch. 4 para. 17(1) (with art. 12)F81Art. 41(2A)-(2C) inserted (1.10.2007) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3)(a), 10(1), Sch. 4 para. 17(1) (with art. 12)Power to require company to abandon misleading nameN.I.42. (1) If in the opinion of the Department the name by which a company is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, the Department may direct it to change its name.
Prohibition on trading under misleading nameN.I.43. (1) A person who is not a public company is guilty of an offence if he carries on any trade, profession or business under a name which includes, as its last part, the words “public limited company” or any contraction or imitation of those words.
[F82Penalty for improper use of “community interest company”N.I.44A. (1) A company which is not a community interest company is guilty of an offence if it carries on any trade, profession or business under a name which includes any of the expressions specified in paragraph (3).
Annotations:F82Art. 44A inserted (6.4.2007) by The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), arts. 1(3), 6(2), Sch. 4 para. 51 (with art. 11(1)). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F83N.I.Annotations:F83prosp. insertion by 2005 NI 17 (which amendment repealed (6.4.2007) by Companies Act 2006 (c. 46), s. 1295, Sch. 16; S.I. 2007/1093, art. 5, Sch. 2 Pt. 2)CHAPTER IIIN.I.A COMPANY'S CAPACITY; FORMALITIES OF CARRYING ON BUSINESS[F84A company's capacity not limited by its memorandumN.I.45. (1) The validity of an act done by a company shall not be called into question on the ground of lack of capacity by reason of anything in the company's memorandum.
Annotations:F841990 NI 10Modifications etc. (not altering text)C4Art. 45 restricted (prosp.) by Charities Act (Northern Ireland) 2008 (c. 12), ss. 97(1), 185(1)Power of directors to bind the companyN.I.45A. (1) In favour of a person dealing with a company in good faith, the power of the board of directors to bind the company, or authorise others to do so, shall be deemed to be free of any limitation under the company's constitution.
Annotations:Modifications etc. (not altering text)C5Art. 45A restricted (prosp.) by Charities Act (Northern Ireland) 2008 (c. 12), ss. 97(1), 185(1)No duty to enquire as to capacity of company or authority of directorsN.I.45B. A party to a transaction with a company is not bound to enquire as to whether it is permitted by the company's memorandum or as to any limitation on the powers of the board of directors to bind the company or authorise others to do so.
Form of company contractsN.I.46 .F85 F86A contract may be made—
Annotations:F85mod. by SR 2003/5F86mod. by SR 2004/307Execution of documentsN.I.46A .F87 (1) The following provisions have effect with respect to the execution of documents by a company.
(2) F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) A company need not have a common seal, F89. . . (4) F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6) F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:F87mod. by SR 2003/5F88Art. 46A(2)(4)-(6) repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12, Sch. 4 para. 1(2)(3)) (with saving by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 8)F89Words in art. 46A(3) repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 2 (with arts. 7, 12, Sch. 4 para. 1(2)(3)) (with saving by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 8)Pre-incorporation contracts and deedsN.I.46B .F90 (1) A contract which purports to be made by or on behalf of a company at a time when the company has not been formed has effect, subject to any agreement to the contrary, as one made with the person purporting to act for the company or as agent for it, and he is personally liable on the contract accordingly.
Annotations:F90mod. by SR 2004/307Bills of exchange and promissory notesN.I.47 .F91 A bill of exchange or promissory note is deemed to have been made, accepted or endorsed on behalf of a company if made, accepted or endorsed in the name of, or by or on behalf or on account of, the company by a person acting under its authority.
Annotations:F91mod. by SR 2004/307Execution of deeds abroadN.I.48 .F92 (1) A company may, by writing under its common seal, empower any person, either generally or in respect of any specified matters, as its attorney, to execute deeds on its behalf in any place elsewhere than in the United Kingdom.
[F93(2) A deed executed by such an attorney on behalf of the company has the same effect as if it were executed under the company's common seal.]
Annotations:F92mod. by SR 2004/307F931990 NI 10Power of company to have official seal for use abroadN.I.49. (1 )F94 A company[F95 which has a common seal and] whose objects require or comprise the transaction of business in foreign countries may, if authorised by its articles, have for use in any territory, district, or place elsewhere than in the United Kingdom, an official seal, which shall be a facsimile of[F95 its common seal], with the addition on its face of the name of every territory, district or place where it is to be used.
[F95(2) The official seal when duly affixed to a document has the same effect as the company's common seal.]
Annotations:F94mod. by SR 2004/307F951990 NI 10Official seal for share certificates, etc.N.I.50. F96A company[F97 which has a common seal] may have, for use for sealing securities issued by the company and for sealing documents creating or evidencing securities so issued, an official seal which is a facsimile of[F97 its common seal] with the addition on its face of the word “Securities”.[F97 The official seal when duly affixed to a document has the same effect as the company's common seal.]
Annotations:F96mod. by SR 1986/305F971990 NI 10Authentication of documentsN.I.51. F98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:F98Art. 51 repealed (6.4.2007) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2006/3428, art. 4(2)(b) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5)Events affecting a company's statusN.I.52. F99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Annotations:F99Art. 52 repealed (1.1.2007) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16; S.I. 2006/3428, art. 7(a), Sch. 2 Pt. 2 (with arts. 6, 8, Sch. 5)PART IIIN.I.RE-REGISTRATION AS A MEANS OF ALTERING A COMPANY'S STATUSPrivate company becoming publicN.I.Re-registration of private company as publicN.I.53. (1) Subject to this Article and Articles 54 to 58, a private company (other than a company not having a share capital) may be re-registered as a public company if—
(b)make such other alterations in the memorandum as are necessary to bring it (in substance and in form) into conformity with the requirements of this Order with respect to the memorandum of a public company (the alterations to include compliance with Article 35(1)[F100, or section 33 of the Companies (Audit, Investigations and Community Enterprise) Act 2004,] as regards the company's name); and
(b)a copy of a written statement by the company's auditors that in their opinion the relevant balance sheet shows that at the balance sheet date the amount of the company's net assets (within the meaning given to that expression by [F101section 831 of the Companies Act 2006]) was not less than the aggregate of its called-up share capital and undistributable reserves;
(e)[F102subject to paragraph (3A),] a statutory declaration in the prescribed form by a director or secretary of the company—
[F102(3A) In place of the statutory declaration referred to in sub-paragraph (e) of paragraph (3), there may be delivered to the registrar using electronic communications a statement made by a director or secretary of the company as to the matters set out in heads (i) and (ii) of that sub-paragraph.
Annotations:F100Words in art. 53(2)(b) inserted (6.4.2007) by Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), arts. 1(3), 6(2), Sch. 4 para. 52 (with art. 11(1))F101Words in art. 53(3)(b) substituted (6.4.2008) by virtue of Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b), Sch. 1 para. 117 (with arts. 6, 11, 12)F102SR 2003/3Consideration for shares recently allotted to be valuedN.I.54. (1) This Article applies if shares have been allotted by the company between the relevant balance sheet date and the passing of the special resolution under Article 53, and those shares were allotted as fully or partly paid up as to their nominal value or any premium on them otherwise than in cash.
(a)“arrangement”