Source: http://www.legislation.gov.uk/cy/ukpga/2006/46/contents/enacted
Timestamp: 2019-02-23 18:06:51
Document Index: 800380674

Matched Legal Cases: ['art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 10', 'art\n381', 'art\n474', 'art 17', 'art 22', 'arty\n818', 'art 24', 'art\n895', 'art\n896', 'art\n903', 'art 26', 'art 7', 'art\n997', 'art\n1210', 'art 1', 'art 2', 'art 3', 'art 15', 'art 2', 'art 3', 'art 4', 'art 4', 'art 5', 'art 1', 'art 2', 'art 1', 'art 2', 'art 3', 'art 1', 'art 2', 'art 1', 'art 6', 'art 6', 'art 6', 'art 6', 'art 2', 'art 1']

2.The Companies Acts
3.Limited and unlimited companies
4.Private and public companies
5.Companies limited by guarantee and having share capital
6.Community interest companies
7.Method of forming company
8.Memorandum of association
9.Registration documents
10.Statement of capital and initial shareholdings
11.Statement of guarantee
12.Statement of proposed officers
13.Statement of compliance
14.Registration
15.Issue of certificate of incorporation
16.Effect of registration
Part 3 A company’s constitution
17.A company’s constitution
Chapter 2 Articles of association
18.Articles of association
19.Power of Secretary of State to prescribe model articles
20.Default application of model articles
21.Amendment of articles
22.Entrenched provisions of the articles
23.Notice to registrar of existence of restriction on amendment of articles
24.Statement of compliance where amendment of articles restricted
25.Effect of alteration of articles on company’s members
26.Registrar to be sent copy of amended articles
27.Registrar’s notice to comply in case of failure with respect to amended articles
28.Existing companies: provisions of memorandum treated as provisions of articles
Chapter 3 Resolutions and agreements affecting a company’s constitution
29.Resolutions and agreements affecting a company’s constitution
30.Copies of resolutions or agreements to be forwarded to registrar
Chapter 4 Miscellaneous and supplementary provisions
31.Statement of company’s objects
32.Constitutional documents to be provided to members
33.Effect of company’s constitution
34.Notice to registrar where company’s constitution altered by enactment
35.Notice to registrar where company’s constitution altered by order
36.Documents to be incorporated in or accompany copies of articles issued by company
37.Right to participate in profits otherwise than as member void
38.Application to single member companies of enactments and rules of law
Part 4 A company’s capacity and related matters
39.A company’s capacity
40.Power of directors to bind the company
41.Constitutional limitations: transactions involving directors or their associates
42.Constitutional limitations: companies that are charities
43.Company contracts
44.Execution of documents
45.Common seal
46.Execution of deeds
47.Execution of deeds or other documents by attorney
Formalities of doing business under the law of Scotland
48.Execution of documents by companies
49.Official seal for use abroad
50.Official seal for share certificates etc
51.Pre-incorporation contracts, deeds and obligations
52.Bills of exchange and promissory notes
Part 5 A company’s name
53.Prohibited names
54.Names suggesting connection with government or public authority
55.Other sensitive words or expressions
56.Duty to seek comments of government department or other specified body
57.Permitted characters etc
58.Public limited companies
59.Private limited companies
60.Exemption from requirement as to use of “limited”
61.Continuation of existing exemption: companies limited by shares
62.Continuation of existing exemption: companies limited by guarantee
63.Exempt company: restriction on amendment of articles
64.Power to direct change of name in case of company ceasing to be entitled to exemption
65.Inappropriate use of indications of company type or legal form
66.Name not to be the same as another in the index
67.Power to direct change of name in case of similarity to existing name
68.Direction to change name: supplementary provisions
69.Objection to company’s registered name
70.Company names adjudicators
71.Procedural rules
72.Decision of adjudicator to be made available to public
73.Order requiring name to be changed
74.Appeal from adjudicator’s decision
75.Provision of misleading information etc
76.Misleading indication of activities
77.Change of name
78.Change of name by special resolution
79.Change of name by means provided for in company’s articles
80.Change of name: registration and issue of new certificate of incorporation
81.Change of name: effect
82.Requirement to disclose company name etc
83.Civil consequences of failure to make required disclosure
84.Criminal consequences of failure to make required disclosures
85.Minor variations in form of name to be left out of account
Part 6 A company’s registered office
86.A company’s registered office
87.Change of address of registered office
88.Welsh companies
Part 7 Re-registration as a means of altering a company’s status
89.Alteration of status by re-registration
90.Re-registration of private company as public
91.Requirements as to share capital
92.Requirements as to net assets
93.Recent allotment of shares for non-cash consideration
94.Application and accompanying documents
95.Statement of proposed secretary
96.Issue of certificate of incorporation on re-registration
97.Re-registration of public company as private limited company
98.Application to court to cancel resolution
99.Notice to registrar of court application or order
100.Application and accompanying documents
101.Issue of certificate of incorporation on re-registration
102.Re-registration of private limited company as unlimited
103.Application and accompanying documents
104.Issue of certificate of incorporation on re-registration
105.Re-registration of unlimited company as limited
106.Application and accompanying documents
107.Issue of certificate of incorporation on re-registration
108.Statement of capital required where company already has share capital
109.Re-registration of public company as private and unlimited
110.Application and accompanying documents
111.Issue of certificate of incorporation on re-registration
Part 8 A company’s members
Chapter 1 The members of a company
112.The members of a company
Chapter 2 Register of members
113.Register of members
114.Register to be kept available for inspection
115.Index of members
116.Rights to inspect and require copies
117.Register of members: response to request for inspection or copy
118.Register of members: refusal of inspection or default in providing copy
119.Register of members: offences in connection with request for or disclosure of information
120.Information as to state of register and index
121.Removal of entries relating to former members
122.Share warrants
123.Single member companies
124.Company holding its own shares as treasury shares
125.Power of court to rectify register
126.Trusts not to be entered on register
127.Register to be evidence
128.Time limit for claims arising from entry in register
Chapter 3 Overseas branch registers
129.Overseas branch registers
130.Notice of opening of overseas branch register
131.Keeping of overseas branch register
132.Register or duplicate to be kept available for inspection in UK
133.Transactions in shares registered in overseas branch register
134.Jurisdiction of local courts
135.Discontinuance of overseas branch register
Chapter 4 Prohibition on subsidiary being member of its holding company
136.Prohibition on subsidiary being a member of its holding company
137.Shares acquired before prohibition became applicable
138.Subsidiary acting as personal representative or trustee
139.Interests to be disregarded: residual interest under pension scheme or employees' share scheme
140.Interests to be disregarded: employer’s rights of recovery under pension scheme or employees' share scheme
141.Subsidiary acting as authorised dealer in securities
142.Protection of third parties in other cases where subsidiary acting as dealer in securities
143.Application of provisions to companies not limited by shares
144.Application of provisions to nominees
145.Effect of provisions of articles as to enjoyment or exercise of members' rights
146.Traded companies: nomination of persons to enjoy information rights
147.Information rights: form in which copies to be provided
148.Termination or suspension of nomination
149.Information as to possible rights in relation to voting
150.Information rights: status of rights
151.Information rights: power to amend
152.Exercise of rights where shares held on behalf of others: exercise in different ways
153.Exercise of rights where shares held on behalf of others: members' requests
Part 10 A company’s directors
Chapter 1 Appointment and removal of directors
154.Companies required to have directors
155.Companies required to have at least one director who is a natural person
156.Direction requiring company to make appointment
157.Minimum age for appointment as director
158.Power to provide for exceptions from minimum age requirement
159.Existing under-age directors
160.Appointment of directors of public company to be voted on individually
161.Validity of acts of directors
162.Register of directors
163.Particulars of directors to be registered: individuals
164.Particulars of directors to be registered: corporate directors and firms
165.Register of directors' residential addresses
166.Particulars of directors to be registered: power to make regulations
167.Duty to notify registrar of changes
168.Resolution to remove director
169.Director’s right to protest against removal
Chapter 2 General duties of directors
170.Scope and nature of general duties
171.Duty to act within powers
172.Duty to promote the success of the company
173.Duty to exercise independent judgment
174.Duty to exercise reasonable care, skill and diligence
175.Duty to avoid conflicts of interest
176.Duty not to accept benefits from third parties
177.Duty to declare interest in proposed transaction or arrangement
178.Civil consequences of breach of general duties
179.Cases within more than one of the general duties
180.Consent, approval or authorisation by members
181.Modification of provisions in relation to charitable companies
Chapter 3 Declaration of interest in existing transaction or arrangement
182.Declaration of interest in existing transaction or arrangement
183.Offence of failure to declare interest
184.Declaration made by notice in writing
185.General notice treated as sufficient declaration
186.Declaration of interest in case of company with sole director
187.Declaration of interest in existing transaction by shadow director
Chapter 4 Transactions with directors requiring approval of members
188.Directors' long-term service contracts: requirement of members' approval
189.Directors' long-term service contracts: civil consequences of contravention
190.Substantial property transactions: requirement of members' approval
191.Meaning of “substantial”
192.Exception for transactions with members or other group companies
193.Exception in case of company in winding up or administration
194.Exception for transactions on recognised investment exchange
195.Property transactions: civil consequences of contravention
196.Property transactions: effect of subsequent affirmation
197.Loans to directors: requirement of members' approval
198.Quasi-loans to directors: requirement of members' approval
199.Meaning of “quasi-loan” and related expressions
200.Loans or quasi-loans to persons connected with directors: requirement of members' approval
201.Credit transactions: requirement of members' approval
202.Meaning of “credit transaction”
203.Related arrangements: requirement of members' approval
204.Exception for expenditure on company business
205.Exception for expenditure on defending proceedings etc
206.Exception for expenditure in connection with regulatory action or investigation
207.Exceptions for minor and business transactions
208.Exceptions for intra-group transactions
209.Exceptions for money-lending companies
210.Other relevant transactions or arrangements
211.The value of transactions and arrangements
212.The person for whom a transaction or arrangement is entered into
213.Loans etc: civil consequences of contravention
214.Loans etc: effect of subsequent affirmation
215.Payments for loss of office
216.Amounts taken to be payments for loss of office
217.Payment by company: requirement of members' approval
218.Payment in connection with transfer of undertaking etc: requirement of members' approval
219.Payment in connection with share transfer: requirement of members' approval
220.Exception for payments in discharge of legal obligations etc
221.Exception for small payments
222.Payments made without approval: civil consequences
223.Transactions requiring members' approval: application of provisions to shadow directors
224.Approval by written resolution: accidental failure to send memorandum
225.Cases where approval is required under more than one provision
226.Requirement of consent of Charity Commission: companies that are charities
Chapter 5 Directors' service contracts
227.Directors' service contracts
228.Copy of contract or memorandum of terms to be available for inspection
229.Right of member to inspect and request copy
230.Directors' service contracts: application of provisions to shadow directors
Chapter 6 Contracts with sole members who are directors
231.Contract with sole member who is also a director
Chapter 7 Directors' liabilities
232.Provisions protecting directors from liability
233.Provision of insurance
234.Qualifying third party indemnity provision
235.Qualifying pension scheme indemnity provision
236.Qualifying indemnity provision to be disclosed in directors' report
237.Copy of qualifying indemnity provision to be available for inspection
238.Right of member to inspect and request copy
239.Ratification of acts of directors
Chapter 8 Directors' residential addresses: protection from disclosure
240.Protected information
241.Protected information: restriction on use or disclosure by company
242.Protected information: restriction on use or disclosure by registrar
243.Permitted use or disclosure by the registrar
244.Disclosure under court order
245.Circumstances in which registrar may put address on the public record
246.Putting the address on the public record
247.Power to make provision for employees on cessation or transfer of business
248.Minutes of directors' meetings
249.Minutes as evidence
250.“Director”
251.“Shadow director”
252.Persons connected with a director
253.Members of a director’s family
254.Director “connected with” a body corporate
255.Director “controlling” a body corporate
256.Associated bodies corporate
257.References to company’s constitution
258.Power to increase financial limits
259.Transactions under foreign law
Chapter 1 Derivative claims in England and Wales or Northern Ireland
260.Derivative claims
261.Application for permission to continue derivative claim
262.Application for permission to continue claim as a derivative claim
263.Whether permission to be given
264.Application for permission to continue derivative claim brought by another member
Chapter 2 Derivative proceedings in Scotland
265.Derivative proceedings
266.Requirement for leave and notice
267.Application to continue proceedings as derivative proceedings
268.Granting of leave
269.Application by member to be substituted for member pursuing derivative proceedings
270.Private company not required to have secretary
271.Public company required to have secretary
272.Direction requiring public company to appoint secretary
273.Qualifications of secretaries of public companies
274.Discharge of functions where office vacant or secretary unable to act
275.Duty to keep register of secretaries
276.Duty to notify registrar of changes
277.Particulars of secretaries to be registered: individuals
278.Particulars of secretaries to be registered: corporate secretaries and firms
279.Particulars of secretaries to be registered: power to make regulations
280.Acts done by person in dual capacity
Chapter 1 General provisions about resolutions
281.Resolutions
282.Ordinary resolutions
283.Special resolutions
284.Votes: general rules
285.Votes: specific requirements
286.Votes of joint holders of shares
287.Saving for provisions of articles as to determination of entitlement to vote
Chapter 2 Written resolutions
288.Written resolutions of private companies
289.Eligible members
290.Circulation date
291.Circulation of written resolutions proposed by directors
292.Members' power to require circulation of written resolution
293.Circulation of written resolution proposed by members
294.Expenses of circulation
295.Application not to circulate members' statement
296.Procedure for signifying agreement to written resolution
297.Period for agreeing to written resolution
298.Sending documents relating to written resolutions by electronic means
299.Publication of written resolution on website
300.Relationship between this Chapter and provisions of company’s articles
Chapter 3 Resolutions at meetings
301.Resolutions at general meetings
302.Directors' power to call general meetings
303.Members' power to require directors to call general meeting
304.Directors' duty to call meetings required by members
305.Power of members to call meeting at company’s expense
306.Power of court to order meeting
307.Notice required of general meeting
308.Manner in which notice to be given
309.Publication of notice of meeting on website
310.Persons entitled to receive notice of meetings
311.Contents of notices of meetings
312.Resolution requiring special notice
313.Accidental failure to give notice of resolution or meeting
314.Members' power to require circulation of statements
315.Company’s duty to circulate members' statement
316.Expenses of circulating members' statement
317.Application not to circulate members' statement
318.Quorum at meetings
319.Chairman of meeting
320.Declaration by chairman on a show of hands
321.Right to demand a poll
322.Voting on a poll
323.Representation of corporations at meetings
324.Rights to appoint proxies
325.Notice of meeting to contain statement of rights
326.Company-sponsored invitations to appoint proxies
327.Notice required of appointment of proxy etc
328.Chairing meetings
329.Right of proxy to demand a poll
330.Notice required of termination of proxy’s authority
331.Saving for more extensive rights conferred by articles
332.Resolution passed at adjourned meeting
333.Sending documents relating to meetings etc in electronic form
334.Application to class meetings
335.Application to class meetings: companies without a share capital
Chapter 4 Public companies: additional requirements for AGMs
336.Public companies: annual general meeting
337.Public companies: notice of AGM
338.Public companies: members' power to require circulation of resolutions for AGMs
339.Public companies: company’s duty to circulate members' resolutions for AGMs
340.Public companies: expenses of circulating members' resolutions for AGM
Chapter 5 Additional requirements for quoted companies
341.Results of poll to be made available on website
342.Members' power to require independent report on poll
343.Appointment of independent assessor
344.Independence requirement
345.Meaning of “associate”
346.Effect of appointment of a partnership
347.The independent assessor’s report
348.Rights of independent assessor: right to attend meeting etc
349.Rights of independent assessor: right to information
350.Offences relating to provision of information
351.Information to be made available on website
352.Application of provisions to class meetings
353.Requirements as to website availability
354.Power to limit or extend the types of company to which provisions of this Chapter apply
Chapter 6 Records of resolutions and meetings
355.Records of resolutions and meetings etc
356.Records as evidence of resolutions etc
357.Records of decisions by sole member
358.Inspection of records of resolutions and meetings
359.Records of resolutions and meetings of class of members
360.Computation of periods of notice etc: clear day rule
361.Meaning of “quoted company”
362.Introductory
363.Political parties, organisations etc to which this Part applies
364.Meaning of “political donation”
365.Meaning of “political expenditure”
366.Authorisation required for donations or expenditure
367.Form of authorising resolution
368.Period for which resolution has effect
369.Liability of directors in case of unauthorised donation or expenditure
370.Enforcement of directors' liabilities by shareholder action
371.Enforcement of directors' liabilities by shareholder action: supplementary
372.Costs of shareholder action
373.Information for purposes of shareholder action
374.Trade unions
375.Subscription for membership of trade association
376.All-party parliamentary groups
377.Political expenditure exempted by order
378.Donations not amounting to more than £5,000 in any twelve month period
379.Minor definitions
380.Scheme of this Part
381.Companies subject to the small companies regime
382.Companies qualifying as small: general
383.Companies qualifying as small: parent companies
384.Companies excluded from the small companies regime
385.Quoted and unquoted companies
Chapter 2 Accounting records
386.Duty to keep accounting records
387.Duty to keep accounting records: offence
388.Where and for how long records to be kept
389.Where and for how long records to be kept: offences
Chapter 3 A company’s financial year
390.A company’s financial year
391.Accounting reference periods and accounting reference date
392.Alteration of accounting reference date
Chapter 4 Annual accounts
393.Accounts to give true and fair view
394.Duty to prepare individual accounts
395.Individual accounts: applicable accounting framework
396.Companies Act individual accounts
397.IAS individual accounts
398.Option to prepare group accounts
399.Duty to prepare group accounts
400.Exemption for company included in EEA group accounts of larger group
401.Exemption for company included in non-EEA group accounts of larger group
402.Exemption if no subsidiary undertakings need be included in the consolidation
403.Group accounts: applicable accounting framework
404.Companies Act group accounts
405.Companies Act group accounts: subsidiary undertakings included in the consolidation
406.IAS group accounts
407.Consistency of financial reporting within group
408.Individual profit and loss account where group accounts prepared
409.Information about related undertakings
410.Information about related undertakings: alternative compliance
411.Information about employee numbers and costs
412.Information about directors' benefits: remuneration
413.Information about directors' benefits: advances, credit and guarantees
414.Approval and signing of accounts
Chapter 5 Directors' report
415.Duty to prepare directors' report
416.Contents of directors' report: general
417.Contents of directors' report: business review
418.Contents of directors' report: statement as to disclosure to auditors
419.Approval and signing of directors' report
Chapter 6 Quoted companies: directors' remuneration report
420.Duty to prepare directors' remuneration report
421.Contents of directors' remuneration report
422.Approval and signing of directors' remuneration report
Chapter 7 Publication of accounts and reports
423.Duty to circulate copies of annual accounts and reports
424.Time allowed for sending out copies of accounts and reports
425.Default in sending out copies of accounts and reports: offences
426.Option to provide summary financial statement
427.Form and contents of summary financial statement: unquoted companies
428.Form and contents of summary financial statement: quoted companies
429.Summary financial statements: offences
430.Quoted companies: annual accounts and reports to be made available on website
431.Right of member or debenture holder to copies of accounts and reports: unquoted companies
432.Right of member or debenture holder to copies of accounts and reports: quoted companies
433.Name of signatory to be stated in published copies of accounts and reports
434.Requirements in connection with publication of statutory accounts
435.Requirements in connection with publication of non-statutory accounts
436.Meaning of “publication” in relation to accounts and reports
Chapter 8 Public companies: laying of accounts and reports before general meeting
437.Public companies: laying of accounts and reports before general meeting
438.Public companies: offence of failure to lay accounts and reports
Chapter 9 Quoted companies: members' approval of directors' remuneration report
439.Quoted companies: members' approval of directors' remuneration report
440.Quoted companies: offences in connection with procedure for approval
Chapter 10 Filing of accounts and reports
441.Duty to file accounts and reports with the registrar
442.Period allowed for filing accounts
443.Calculation of period allowed
444.Filing obligations of companies subject to small companies regime
445.Filing obligations of medium-sized companies
446.Filing obligations of unquoted companies
447.Filing obligations of quoted companies
448.Unlimited companies exempt from obligation to file accounts
449.Special auditor’s report where abbreviated accounts delivered
450.Approval and signing of abbreviated accounts
451.Default in filing accounts and reports: offences
452.Default in filing accounts and reports: court order
453.Civil penalty for failure to file accounts and reports
Chapter 11 Revision of defective accounts and reports
454.Voluntary revision of accounts etc
Secretary of State’s notice
455.Secretary of State’s notice in respect of accounts or reports
456.Application to court in respect of defective accounts or reports
457.Other persons authorised to apply to the court
458.Disclosure of information by tax authorities
459.Power of authorised person to require documents, information and explanations
460.Restrictions on disclosure of information obtained under compulsory powers
461.Permitted disclosure of information obtained under compulsory powers
462.Power to amend categories of permitted disclosure
463.Liability for false or misleading statements in reports
464.Accounting standards
465.Companies qualifying as medium-sized: general
466.Companies qualifying as medium-sized: parent companies
467.Companies excluded from being treated as medium-sized
468.General power to make further provision about accounts and reports
469.Preparation and filing of accounts in euros
470.Power to apply provisions to banking partnerships
471.Meaning of “annual accounts” and related expressions
472.Notes to the accounts
473.Parliamentary procedure for certain regulations under this Part
474.Minor definitions
Chapter 1 Requirement for audited accounts
475.Requirement for audited accounts
476.Right of members to require audit
477.Small companies: conditions for exemption from audit
478.Companies excluded from small companies exemption
479.Availability of small companies exemption in case of group company
480.Dormant companies: conditions for exemption from audit
481.Companies excluded from dormant companies exemption
482.Non-profit-making companies subject to public sector audit
483.Scottish public sector companies: audit by Auditor General for Scotland
484.General power of amendment by regulations
Chapter 2 Appointment of auditors
485.Appointment of auditors of private company: general
486.Appointment of auditors of private company: default power of Secretary of State
487.Term of office of auditors of private company
488.Prevention by members of deemed re-appointment of auditor
489.Appointment of auditors of public company: general
490.Appointment of auditors of public company: default power of Secretary of State
491.Term of office of auditors of public company
492.Fixing of auditor’s remuneration
493.Disclosure of terms of audit appointment
494.Disclosure of services provided by auditor or associates and related remuneration
Chapter 3 Functions of auditor
495.Auditor’s report on company’s annual accounts
496.Auditor’s report on directors' report
497.Auditor’s report on auditable part of directors' remuneration report
498.Duties of auditor
499.Auditor’s general right to information
500.Auditor’s right to information from overseas subsidiaries
501.Auditor’s rights to information: offences
502.Auditor’s rights in relation to resolutions and meetings
503.Signature of auditor’s report
504.Senior statutory auditor
505.Names to be stated in published copies of auditor’s report
506.Circumstances in which names may be omitted
Offences in connection with auditor’s report
507.Offences in connection with auditor’s report
508.Guidance for regulatory and prosecuting authorities: England, Wales and Northern Ireland
509.Guidance for regulatory authorities: Scotland
Chapter 4 Removal, resignation, etc of auditors
510.Resolution removing auditor from office
511.Special notice required for resolution removing auditor from office
512.Notice to registrar of resolution removing auditor from office
513.Rights of auditor who has been removed from office
514.Failure to re-appoint auditor: special procedure required for written resolution
515.Failure to re-appoint auditor: special notice required for resolution at general meeting
516.Resignation of auditor
517.Notice to registrar of resignation of auditor
518.Rights of resigning auditor
519.Statement by auditor to be deposited with company
520.Company’s duties in relation to statement
521.Copy of statement to be sent to registrar
522.Duty of auditor to notify appropriate audit authority
523.Duty of company to notify appropriate audit authority
524.Information to be given to accounting authorities
525.Meaning of “appropriate audit authority” and “major audit”
526.Effect of casual vacancies
Chapter 5 Quoted companies: right of members to raise audit concerns at accounts meeting
527.Members' power to require website publication of audit concerns
528.Requirements as to website availability
529.Website publication: company’s supplementary duties
530.Website publication: offences
531.Meaning of “quoted company”
Chapter 6 Auditors' liability
532.Voidness of provisions protecting auditors from liability
533.Indemnity for costs of successfully defending proceedings
534.Liability limitation agreements
535.Terms of liability limitation agreement
536.Authorisation of agreement by members of the company
537.Effect of liability limitation agreement
538.Disclosure of agreement by company
539.Minor definitions
Part 17 A company’s share capital
Chapter 1 Shares and share capital of a company
540.Shares
541.Nature of shares
542.Nominal value of shares
543.Numbering of shares
544.Transferability of shares
545.Companies having a share capital
546.Issued and allotted share capital
547.Called-up share capital
548.Equity share capital
Chapter 2 Allotment of shares: general provisions
549.Exercise by directors of power to allot shares etc
550.Power of directors to allot shares etc: private company with only one class of shares
551.Power of directors to allot shares etc: authorisation by company
552.General prohibition of commissions, discounts and allowances
553.Permitted commission
554.Registration of allotment
555.Return of allotment by limited company
556.Return of allotment by unlimited company allotting new class of shares
557.Offence of failure to make return
558.When shares are allotted
559.Provisions about allotment not applicable to shares taken on formation
Chapter 3 Allotment of equity securities: existing shareholders' right of pre-emption
560.Meaning of “equity securities” and related expressions
561.Existing shareholders' right of pre-emption
562.Communication of pre-emption offers to shareholders
563.Liability of company and officers in case of contravention
564.Exception to pre-emption right: bonus shares
565.Exception to pre-emption right: issue for non-cash consideration
566.Exception to pre-emption right: securities held under employees' share scheme
567.Exclusion of requirements by private companies
568.Exclusion of pre-emption right: articles conferring corresponding right
569.Disapplication of pre-emption rights: private company with only one class of shares
570.Disapplication of pre-emption rights: directors acting under general authorisation
571.Disapplication of pre-emption rights by special resolution
572.Liability for false statement in directors' statement
573.Disapplication of pre-emption rights: sale of treasury shares
574.References to holder of shares in relation to offer
575.Saving for other restrictions on offer or allotment
576.Saving for certain older pre-emption requirements
577.Provisions about pre-emption not applicable to shares taken on formation
Chapter 4 Public companies: allotment where issue not fully subscribed
578.Public companies: allotment where issue not fully subscribed
579.Public companies: effect of irregular allotment where issue not fully subscribed
Chapter 5 Payment for shares
580.Shares not to be allotted at a discount
581.Provision for different amounts to be paid on shares
582.General rule as to means of payment
583.Meaning of payment in cash
584.Public companies: shares taken by subscribers of memorandum
585.Public companies: must not accept undertaking to do work or perform services
586.Public companies: shares must be at least one-quarter paid up
587.Public companies: payment by long-term undertaking
588.Liability of subsequent holders of shares
589.Power of court to grant relief
590.Penalty for contravention of this Chapter
591.Enforceability of undertakings to do work etc
592.The appropriate rate of interest
Chapter 6 Public companies: independent valuation of non-cash consideration
593.Public company: valuation of non-cash consideration for shares
594.Exception to valuation requirement: arrangement with another company
595.Exception to valuation requirement: merger
596.Non-cash consideration for shares: requirements as to valuation and report
597.Copy of report to be delivered to registrar
598.Public company: agreement for transfer of non-cash asset in initial period
599.Agreement for transfer of non-cash asset: requirement of independent valuation
600.Agreement for transfer of non-cash asset: requirements as to valuation and report
601.Agreement for transfer of non-cash asset: requirement of approval by members
602.Copy of resolution to be delivered to registrar
603.Adaptation of provisions in relation to company re-registering as public
604.Agreement for transfer of non-cash asset: effect of contravention
605.Liability of subsequent holders of shares
606.Power of court to grant relief
607.Penalty for contravention of this Chapter
608.Enforceability of undertakings to do work etc
609.The appropriate rate of interest
Chapter 7 Share premiums
610.Application of share premiums
611.Group reconstruction relief
612.Merger relief
613.Merger relief: meaning of 90% equity holding
614.Power to make further provision by regulations
615.Relief may be reflected in company’s balance sheet
616.Interpretation of this Chapter
Chapter 8 Alteration of share capital
617.Alteration of share capital of limited company
618.Sub-division or consolidation of shares
619.Notice to registrar of sub-division or consolidation
620.Reconversion of stock into shares
621.Notice to registrar of reconversion of stock into shares
622.Redenomination of share capital
623.Calculation of new nominal values
624.Effect of redenomination
625.Notice to registrar of redenomination
626.Reduction of capital in connection with redenomination
627.Notice to registrar of reduction of capital in connection with redenomination
628.Redenomination reserve
Chapter 9 Classes of share and class rights
629.Classes of shares
630.Variation of class rights: companies having a share capital
631.Variation of class rights: companies without a share capital
632.Variation of class rights: saving for court’s powers under other provisions
633.Right to object to variation: companies having a share capital
634.Right to object to variation: companies without a share capital
635.Copy of court order to be forwarded to the registrar
636.Notice of name or other designation of class of shares
637.Notice of particulars of variation of rights attached to shares
638.Notice of new class of members
639.Notice of name or other designation of class of members
640.Notice of particulars of variation of class rights
Chapter 10 Reduction of share capital
641.Circumstances in which a company may reduce its share capital
642.Reduction of capital supported by solvency statement
643.Solvency statement
644.Registration of resolution and supporting documents
645.Application to court for order of confirmation
646.Creditors entitled to object to reduction
647.Offences in connection with list of creditors
648.Court order confirming reduction
649.Registration of order and statement of capital
650.Public company reducing capital below authorised minimum
651.Expedited procedure for re-registration as a private company
652.Liability of members following reduction of capital
653.Liability to creditor in case of omission from list of creditors
Chapter 11 Miscellaneous and supplementary provisions
654.Treatment of reserve arising from reduction of capital
655.Shares no bar to damages against company
656.Public companies: duty of directors to call meeting on serious loss of capital
657.General power to make further provision by regulations
658.General rule against limited company acquiring its own shares
659.Exceptions to general rule
660.Treatment of shares held by nominee
661.Liability of others where nominee fails to make payment in respect of shares
662.Duty to cancel shares in public company held by or for the company
663.Notice of cancellation of shares
664.Re-registration as private company in consequence of cancellation
665.Issue of certificate of incorporation on re-registration
666.Effect of failure to re-register
667.Offence in case of failure to cancel shares or re-register
668.Application of provisions to company re-registering as public company
669.Transfer to reserve on acquisition of shares by public company or nominee
670.Public companies: general rule against lien or charge on own shares
671.Interests to be disregarded in determining whether company has beneficial interest
672.Residual interest under pension scheme or employees' share scheme
673.Employer’s charges and other rights of recovery
674.Rights as personal representative or trustee
675.Meaning of “pension scheme”
676.Application of provisions to directors
Chapter 2 Financial assistance for purchase of own shares
677.Meaning of “financial assistance”
678.Assistance for acquisition of shares in public company
679.Assistance by public company for acquisition of shares in its private holding company
680.Prohibited financial assistance an offence
681.Unconditional exceptions
682.Conditional exceptions
683.Definitions for this Chapter
Chapter 3 Redeemable shares
684.Power of limited company to issue redeemable shares
685.Terms and manner of redemption
686.Payment for redeemable shares
687.Financing of redemption
688.Redeemed shares treated as cancelled
689.Notice to registrar of redemption
Chapter 4 Purchase of own shares
690.Power of limited company to purchase own shares
691.Payment for purchase of own shares
692.Financing of purchase of own shares
693.Authority for purchase of own shares
694.Authority for off-market purchase
695.Resolution authorising off-market purchase: exercise of voting rights
696.Resolution authorising off-market purchase: disclosure of details of contract
697.Variation of contract for off-market purchase
698.Resolution authorising variation: exercise of voting rights
699.Resolution authorising variation: disclosure of details of variation
700.Release of company’s rights under contract for off-market purchase
701.Authority for market purchase
702.Copy of contract or memorandum to be available for inspection
703.Enforcement of right to inspect copy or memorandum
704.No assignment of company’s right to purchase own shares
705.Payments apart from purchase price to be made out of distributable profits
706.Treatment of shares purchased
707.Return to registrar of purchase of own shares
708.Notice to registrar of cancellation of shares
Chapter 5 Redemption or purchase by private company out of capital
709.Power of private limited company to redeem or purchase own shares out of capital
710.The permissible capital payment
711.Available profits
712.Determination of available profits
713.Requirements for payment out of capital
714.Directors' statement and auditor’s report
715.Directors' statement: offence if no reasonable grounds for opinion
716.Payment to be approved by special resolution
717.Resolution authorising payment: exercise of voting rights
718.Resolution authorising payment: disclosure of directors' statement and auditor’s report
719.Public notice of proposed payment
720.Directors' statement and auditor’s report to be available for inspection
721.Application to court to cancel resolution
722.Notice to registrar of court application or order
723.When payment out of capital to be made
Chapter 6 Treasury shares
724.Treasury shares
725.Treasury shares: maximum holdings
726.Treasury shares: exercise of rights
727.Treasury shares: disposal
728.Treasury shares: notice of disposal
729.Treasury shares: cancellation
730.Treasury shares: notice of cancellation
731.Treasury shares: treatment of proceeds of sale
732.Treasury shares: offences
733.The capital redemption reserve
734.Accounting consequences of payment out of capital
735.Effect of company’s failure to redeem or purchase
736.Meaning of “distributable profits”
737.General power to make further provision by regulations
738.Meaning of “debenture”
739.Perpetual debentures
740.Enforcement of contract to subscribe for debentures
741.Registration of allotment of debentures
742.Debentures to bearer (Scotland)
743.Register of debenture holders
744.Register of debenture holders: right to inspect and require copy
745.Register of debenture holders: response to request for inspection or copy
746.Register of debenture holders: refusal of inspection or default in providing copy
747.Register of debenture holders: offences in connection with request for or disclosure of information
748.Time limit for claims arising from entry in register
749.Right of debenture holder to copy of deed
750.Liability of trustees of debentures
751.Liability of trustees of debentures: saving for certain older provisions
752.Power to re-issue redeemed debentures
753.Deposit of debentures to secure advances
754.Priorities where debentures secured by floating charge
Chapter 1 Prohibition of public offers by private companies
755.Prohibition of public offers by private company
756.Meaning of “offer to the public”
757.Enforcement of prohibition: order restraining proposed contravention
758.Enforcement of prohibition: orders available to the court after contravention
759.Enforcement of prohibition: remedial order
760.Validity of allotment etc not affected
Chapter 2 Minimum share capital requirement for public companies
761.Public company: requirement as to minimum share capital
762.Procedure for obtaining certificate
763.The authorised minimum
764.Power to alter authorised minimum
765.Authorised minimum: application of initial requirement
766.Authorised minimum: application where shares denominated in different currencies etc
767.Consequences of doing business etc without a trading certificate
768.Share certificate to be evidence of title
769.Duty of company as to issue of certificates etc on allotment
770.Registration of transfer
771.Procedure on transfer being lodged
772.Transfer of shares on application of transferor
773.Execution of share transfer by personal representative
774.Evidence of grant of probate etc
775.Certification of instrument of transfer
776.Duty of company as to issue of certificates etc on transfer
777.Issue of certificates etc: cases within the Stock Transfer Act 1982
778.Issue of certificates etc: allotment or transfer to financial institution
779.Issue and effect of share warrant to bearer
780.Duty of company as to issue of certificates on surrender of share warrant
781.Offences in connection with share warrants (Scotland)
782.Issue of certificates etc: court order to make good default
783.Scope of this Chapter
784.Power to make regulations
785.Provision enabling procedures for evidencing and transferring title
786.Provision enabling or requiring arrangements to be adopted
787.Provision enabling or requiring arrangements to be adopted: order-making powers
788.Provision that may be included in regulations
789.Duty to consult
790.Resolutions to be forwarded to registrar
Part 22 Information about interests in a company’s shares
791.Companies to which this Part applies
792.Shares to which this Part applies
793.Notice by company requiring information about interests in its shares
794.Notice requiring information: order imposing restrictions on shares
795.Notice requiring information: offences
796.Notice requiring information: persons exempted from obligation to comply
797.Consequences of order imposing restrictions
798.Penalty for attempted evasion of restrictions
799.Relaxation of restrictions
800.Removal of restrictions
801.Order for sale of shares
802.Application of proceeds of sale under court order
803.Power of members to require company to act
804.Duty of company to comply with requirement
805.Report to members on outcome of investigation
806.Report to members: offences
807.Right to inspect and request copy of reports
808.Register of interests disclosed
809.Register to be kept available for inspection
810.Associated index
811.Rights to inspect and require copy of entries
812.Court supervision of purpose for which rights may be exercised
813.Register of interests disclosed: refusal of inspection or default in providing copy
814.Register of interests disclosed: offences in connection with request for or disclosure of information
815.Entries not to be removed from register
816.Removal of entries from register: old entries
817.Removal of entries from register: incorrect entry relating to third party
818.Adjustment of entry relating to share acquisition agreement
819.Duty of company ceasing to be public company
820.Interest in shares: general
821.Interest in shares: right to subscribe for shares
822.Interest in shares: family interests
823.Interest in shares: corporate interests
824.Interest in shares: agreement to acquire interests in a particular company
825.Extent of obligation in case of share acquisition agreement
826.Information protected from wider disclosure
827.Reckoning of periods for fulfilling obligations
828.Power to make further provision by regulations
Chapter 1 Restrictions on when distributions may be made
829.Meaning of “distribution”
830.Distributions to be made only out of profits available for the purpose
831.Net asset restriction on distributions by public companies
832.Distributions by investment companies out of accumulated revenue profits
833.Meaning of “investment company”
834.Investment company: condition as to holdings in other companies
835.Power to extend provisions relating to investment companies
Chapter 2 Justification of distribution by reference to accounts
836.Justification of distribution by reference to relevant accounts
837.Requirements where last annual accounts used
838.Requirements where interim accounts used
839.Requirements where initial accounts used
840.Successive distributions etc by reference to the same accounts
841.Realised losses and profits and revaluation of fixed assets
842.Determination of profit or loss in respect of asset where records incomplete
843.Realised profits and losses of long-term insurance business
844.Treatment of development costs
845.Distributions in kind: determination of amount
846.Distributions in kind: treatment of unrealised profits
847.Consequences of unlawful distribution
848.Saving for certain older provisions in articles
849.Restriction on application of unrealised profits
850.Treatment of certain older profits or losses
851.Application of rules of law restricting distributions
852.Saving for other restrictions on distributions
853.Minor definitions
Part 24 A company’s annual return
854.Duty to deliver annual returns
855.Contents of annual return: general
856.Contents of annual return: information about share capital and shareholders
857.Contents of annual return: power to make further provision by regulations
858.Failure to deliver annual return
859.Application of provisions to shadow directors
Chapter 1 Companies registered in England and Wales or in Northern Ireland
860.Charges created by a company
861.Charges which have to be registered: supplementary
862.Charges existing on property acquired
863.Charge in series of debentures
864.Additional registration requirement for commission etc in relation to debentures
865.Endorsement of certificate on debentures
866.Charges created in, or over property in, jurisdictions outside the United Kingdom
867.Charges created in, or over property in, another United Kingdom jurisdiction
868.Northern Ireland: registration of certain charges etc. affecting land
869.Register of charges to be kept by registrar
870.The period allowed for registration
871.Registration of enforcement of security
872.Entries of satisfaction and release
873.Rectification of register of charges
874.Consequence of failure to register charges created by a company
875.Companies to keep copies of instruments creating charges
876.Company’s register of charges
877.Instruments creating charges and register of charges to be available for inspection
Chapter 2 Companies registered in Scotland
879.Charges which have to be registered: supplementary
880.Duty to register charges existing on property acquired
881.Charge by way of ex facie absolute disposition, etc
882.Charge in series of debentures
883.Additional registration requirement for commission etc in relation to debentures
884.Charges on property outside United Kingdom
885.Register of charges to be kept by registrar
886.The period allowed for registration
887.Entries of satisfaction and relief
889.Charges void unless registered
890.Copies of instruments creating charges to be kept by company
892.Instruments creating charges and register of charges to be available for inspection
Chapter 3 Powers of the Secretary of State
893.Power to make provision for effect of registration in special register
894.General power to make amendments to this Part
895.Application of this Part
896.Court order for holding of meeting
897.Statement to be circulated or made available
898.Duty of directors and trustees to provide information
899.Court sanction for compromise or arrangement
900.Powers of court to facilitate reconstruction or amalgamation
901.Obligations of company with respect to articles etc
902.Application of this Part
903.Relationship of this Part to Part 26
Chapter 2 Merger
904.Mergers and merging companies
905.Draft terms of scheme (merger)
906.Publication of draft terms (merger)
907.Approval of members of merging companies
908.Directors' explanatory report (merger)
909.Expert’s report (merger)
910.Supplementary accounting statement (merger)
911.Inspection of documents (merger)
912.Approval of articles of new transferee company (merger)
913.Protection of holders of securities to which special rights attached (merger)
914.No allotment of shares to transferor company or its nominee (merger)
915.Circumstances in which certain particulars and reports not required (merger)
916.Circumstances in which meeting of members of transferee company not required (merger)
917.Circumstances in which no meetings required (merger)
918.Other circumstances in which meeting of members of transferee company not required (merger)
Chapter 3 Division
919.Divisions and companies involved in a division
920.Draft terms of scheme (division)
921.Publication of draft terms (division)
922.Approval of members of companies involved in the division
923.Directors' explanatory report (division)
924.Expert’s report (division)
925.Supplementary accounting statement (division)
926.Inspection of documents (division)
927.Report on material changes of assets of transferor company (division)
928.Approval of articles of new transferee company (division)
929.Protection of holders of securities to which special rights attached (division)
930.No allotment of shares to transferor company or its nominee (division)
931.Circumstances in which meeting of members of transferor company not required (division)
932.Circumstances in which meeting of members of transferee company not required (division)
933.Agreement to dispense with reports etc (division)
934.Power of court to exclude certain requirements (division)
Expert’s report and related matters
935.Expert’s report: valuation by another person
936.Experts and valuers: independence requirement
937.Experts and valuers: meaning of “associate”
938.Power of court to summon meeting of members or creditors of existing transferee company
939.Court to fix date for transfer of undertaking etc of transferor company
940.Liability of transferee companies for each other’s defaults
941.Meaning of “liabilities” and “property”
Chapter 1 The Takeover Panel
942.The Panel
943.Rules
944.Further provisions about rules
945.Rulings
946.Directions
947.Power to require documents and information
948.Restrictions on disclosure
949.Offence of disclosure in contravention of section 948
950.Panel’s duty of co-operation
951.Hearings and appeals
952.Sanctions
953.Failure to comply with rules about bid documentation
954.Compensation
955.Enforcement by the court
956.No action for breach of statutory duty etc
957.Fees and charges
958.Levy
959.Recovery of fees, charges or levy
960.Panel as party to proceedings
961.Exemption from liability in damages
962.Privilege against self-incrimination
963.Annual reports
964.Amendments to Financial Services and Markets Act 2000
965.Power to extend to Isle of Man and Channel Islands
Chapter 2 Impediments to takeovers
966.Opting in and opting out
967.Further provision about opting-in and opting-out resolutions
968.Effect on contractual restrictions
969.Power of offeror to require general meeting to be called
970.Communication of decisions
971.Interpretation of this Chapter
972.Transitory provision
973.Power to extend to Isle of Man and Channel Islands
Chapter 3 “Squeeze-out” and “Sell-out”
974.Meaning of “takeover offer”
975.Shares already held by the offeror etc
976.Cases where offer treated as being on same terms
977.Shares to which an offer relates
978.Effect of impossibility etc of communicating or accepting offer
979.Right of offeror to buy out minority shareholder
980.Further provision about notices given under section 979
981.Effect of notice under section 979
982.Further provision about consideration held on trust under section 981(9)
983.Right of minority shareholder to be bought out by offeror
984.Further provision about rights conferred by section 983
985.Effect of requirement under section 983
986.Applications to the court
987.Joint offers
988.Associates
989.Convertible securities
990.Debentures carrying voting rights
991.Interpretation
Chapter 4 Amendments to Part 7 of the Companies Act 1985
992.Matters to be dealt with in directors' report
993.Offence of fraudulent trading
994.Petition by company member
995.Petition by Secretary of State
996.Powers of the court under this Part
997.Application of general rule-making powers
998.Copy of order affecting company’s constitution to be delivered to registrar
999.Supplementary provisions where company’s constitution altered
Chapter 1 Striking off
Registrar’s power to strike off defunct company
1000.Power to strike off company not carrying on business or in operation
1001.Duty to act in case of company being wound up
1002.Supplementary provisions as to service of letter or notice
1003.Striking off on application by company
1004.Circumstances in which application not to be made: activities of company
1005.Circumstances in which application not to be made: other proceedings not concluded
1006.Copy of application to be given to members, employees, etc
1007.Copy of application to be given to new members, employees, etc
1008.Copy of application: provisions as to service of documents
1009.Circumstances in which application to be withdrawn
1010.Withdrawal of application
1011.Meaning of “creditor”
Chapter 2 Property of dissolved company
1012.Property of dissolved company to be bona vacantia
1013.Crown disclaimer of property vesting as bona vacantia
1014.Effect of Crown disclaimer
1015.General effect of disclaimer
1016.Disclaimer of leaseholds
1017.Power of court to make vesting order
1018.Protection of persons holding under a lease
1019.Land subject to rentcharge
1020.General effect of disclaimer
1021.Power of court to make vesting order
1022.Protection of persons holding under a lease
1023.Liability for rentcharge on company’s land after dissolution
Chapter 3 Restoration to the register
1024.Application for administrative restoration to the register
1025.Requirements for administrative restoration
1026.Application to be accompanied by statement of compliance
1027.Registrar’s decision on application for administrative restoration
1028.Effect of administrative restoration
1029.Application to court for restoration to the register
1030.When application to the court may be made
1031.Decision on application for restoration by the court
1032.Effect of court order for restoration to the register
1033.Company’s name on restoration
1034.Effect of restoration to the register where property has vested as bona vacantia
1035.Powers of Secretary of State to give directions to inspectors
1036.Resignation, removal and replacement of inspectors
1037.Power to obtain information from former inspectors etc
1038.Power to require production of documents
1039.Disqualification orders: consequential amendments
Chapter 1 Companies not formed under companies legislation but authorised to register
1040.Companies authorised to register under this Act
1041.Definition of “joint stock company”
1042.Power to make provision by regulations
Chapter 2 Unregistered companies
1043.Unregistered companies
1044.Overseas companies
1045.Company contracts and execution of documents by companies
1046.Duty to register particulars
1047.Registered name of overseas company
1048.Registration under alternative name
1049.Accounts and reports: general
1050.Accounts and reports: credit or financial institutions
1051.Trading disclosures
1052.Company charges
1053.Other returns etc
1054.Offences
1055.Disclosure of individual’s residential address: protection from disclosure
1056.Requirement to identify persons authorised to accept service of documents
1057.Registrar to whom returns, notices etc to be delivered
1058.Duty to give notice of ceasing to have registrable presence
1059.Application of provisions in case of relocation of branch
1060.The registrar
1061.The registrar’s functions
1062.The registrar’s official seal
1063.Fees payable to registrar
1064.Public notice of issue of certificate of incorporation
1065.Right to certificate of incorporation
1066.Company’s registered numbers
1067.Registered numbers of branches of overseas company
1068.Registrar’s requirements as to form, authentication and manner of delivery
1069.Power to require delivery by electronic means
1070.Agreement for delivery by electronic means
1071.Document not delivered until received
1072.Requirements for proper delivery
1073.Power to accept documents not meeting requirements for proper delivery
1074.Documents containing unnecessary material
1075.Informal correction of document
1076.Replacement of document not meeting requirements for proper delivery
1077.Public notice of receipt of certain documents
1078.Documents subject to Directive disclosure requirements
1079.Effect of failure to give public notice
1080.The register
1081.Annotation of the register
1082.Allocation of unique identifiers
1083.Preservation of original documents
1084.Records relating to companies that have been dissolved etc
1085.Inspection of the register
1086.Right to copy of material on the register
1087.Material not available for public inspection
1088.Application to registrar to make address unavailable for public inspection
1089.Form of application for inspection or copy
1090.Form and manner in which copies to be provided
1091.Certification of copies as accurate
1092.Issue of process for production of records kept by the registrar
1093.Registrar’s notice to resolve inconsistency on the register
1094.Administrative removal of material from the register
1095.Rectification of register on application to registrar
1096.Rectification of the register under court order
1097.Powers of court on ordering removal of material from the register
1098.Public notice of removal of certain material from the register
1099.The registrar’s index of company names
1100.Right to inspect index
1101.Power to amend enactments relating to bodies other than companies
1102.Application of language requirements
1103.Documents to be drawn up and delivered in English
1104.Documents relating to Welsh companies
1105.Documents that may be drawn up and delivered in other languages
1106.Voluntary filing of translations
1107.Certified translations
1108.Transliteration of names and addresses: permitted characters
1109.Transliteration of names and addresses: voluntary transliteration into Roman characters
1110.Transliteration of names and addresses: certification
1111.Registrar’s requirements as to certification or verification
1112.General false statement offence
1113.Enforcement of company’s filing obligations
1114.Application of provisions about documents and delivery
1115.Supplementary provisions relating to electronic communications
1116.Alternative to publication in the Gazette
1117.Registrar’s rules
1118.Payments into the Consolidated Fund
1119.Contracting out of registrar’s functions
1120.Application of this Part to overseas companies
1121.Liability of officer in default
1122.Liability of company as officer in default
1123.Application to bodies other than companies
1124.Amendments of the Companies Act 1985
1125.Meaning of “daily default fine”
1126.Consents required for certain prosecutions
1127.Summary proceedings: venue
1128.Summary proceedings: time limit for proceedings
1129.Legal professional privilege
1130.Proceedings against unincorporated bodies
1131.Imprisonment on summary conviction in England and Wales: transitory provision
1132.Production and inspection of documents where offence suspected
1133.Transitional provision
1134.Meaning of “company records”
1135.Form of company records
1136.Regulations about where certain company records to be kept available for inspection
1137.Regulations about inspection of records and provision of copies
1138.Duty to take precautions against falsification
1139.Service of documents on company
1140.Service of documents on directors, secretaries and others
1141.Service addresses
1142.Requirement to give service address
1143.The company communications provisions
1144.Sending or supplying documents or information
1145.Right to hard copy version
1146.Requirement of authentication
1147.Deemed delivery of documents and information
1148.Interpretation of company communications provisions
1149.Application of valuation requirements
1150.Valuation by qualified independent person
1151.The independence requirement
1152.Meaning of “associate”
1153.Valuer entitled to full disclosure
1154.Duty to notify registrar of certain appointments etc
1155.Offence of failure to give notice
1156.Meaning of “the court”
1157.Power of court to grant relief in certain cases
1158.Meaning of “UK-registered company”
1159.Meaning of “subsidiary” etc
1160.Meaning of “subsidiary” etc: power to amend
1161.Meaning of “undertaking” and related expressions
1162.Parent and subsidiary undertakings
1163.“Non-cash asset”
1164.Meaning of “banking company” and “banking group”
1165.Meaning of “insurance company” and related expressions
1166.“Employees' share scheme”
1167.Meaning of “prescribed”
1168.Hard copy and electronic form and related expressions
1169.Dormant companies
1170.Meaning of “EEA State” and related expressions
1171.The former Companies Acts
1172.References to requirements of this Act
1173.Minor definitions: general
1174.Index of defined expressions
1175.Removal of special provisions about accounts and audit of charitable companies
1176.Power of Secretary of State to bring civil proceedings on company’s behalf
1177.Repeal of certain provisions about company directors
1178.Repeal of requirement that certain companies publish periodical statement
1179.Repeal of requirement that Secretary of State prepare annual report
1180.Repeal of certain provisions about company charges
1181.Access to constitutional documents of RTE and RTM companies
1182.Persons subject to foreign restrictions
1183.Meaning of “the court” and “UK company”
1184.Disqualification of persons subject to foreign restrictions
1185.Disqualification regulations: supplementary
1186.Offence of breach of disqualification
1187.Personal liability for debts of company
1188.Statements from persons subject to foreign restrictions
1189.Statements from persons disqualified
1190.Statements: whether to be made public
1191.Offences
Chapter 1 Restricted or prohibited names
1192.Application of this Chapter
1193.Name suggesting connection with government or public authority
1194.Other sensitive words or expressions
1195.Requirement to seek comments of government department or other relevant body
1196.Withdrawal of Secretary of State’s approval
1197.Name containing inappropriate indication of company type or legal form
1198.Name giving misleading indication of activities
1199.Savings for existing lawful business names
Chapter 2 Disclosure required in case of individual or partnership
1200.Application of this Chapter
1201.Information required to be disclosed
1202.Disclosure required: business documents etc
1203.Exemption for large partnerships if certain conditions met
1204.Disclosure required: business premises
1205.Criminal consequences of failure to make required disclosure
1206.Civil consequences of failure to make required disclosure
1207.Application of general provisions about offences
1208.Interpretation
1209.Main purposes of Part
1210.Meaning of “statutory auditor” etc
1211.Eligibility for appointment as a statutory auditor: overview
Chapter 2 Individuals and firms
1212.Individuals and firms: eligibility for appointment as a statutory auditor
1213.Effect of ineligibility
1214.Independence requirement
1215.Effect of lack of independence
1216.Effect of appointment of a partnership
1217.Supervisory bodies
1218.Exemption from liability for damages
1219.Appropriate qualifications
1220.Qualifying bodies and recognised professional qualifications
1221.Approval of overseas qualifications
1222.Eligibility of individuals retaining only 1967 Act authorisation
1223.Matters to be notified to the Secretary of State
1224.The Secretary of State’s power to call for information
1225.Compliance orders
Chapter 3 Auditors General
1226.Auditors General: eligibility for appointment as a statutory auditor
1227.Individuals responsible for audit work on behalf of Auditors General
1228.Appointment of the Independent Supervisor
1229.Supervision of Auditors General by the Independent Supervisor
1230.Duties of Auditors General in relation to supervision arrangements
1231.Reports by the Independent Supervisor
1232.Matters to be notified to the Independent Supervisor
1233.The Independent Supervisor’s power to call for information
1234.Suspension notices
1235.Effect of suspension notices
1236.Compliance orders
1237.Proceedings involving the Independent Supervisor
1238.Grants to the Independent Supervisor
Chapter 4 The register of auditors etc
1239.The register of auditors
1240.Information to be made available to public
Chapter 5 Registered third country auditors
1241.Meaning of “third country auditor”, “registered third country auditor” etc
1242.Duties of registered third country auditors
1243.Matters to be notified to the Secretary of State
1244.The Secretary of State’s power to call for information
1245.Compliance orders
1246.Removal of third country auditors from the register of auditors
1247.Grants to bodies concerned with arrangements under Schedule 12
Chapter 6 Supplementary and general
1248.Secretary of State’s power to require second audit of a company
1249.Supplementary provision about second audits
1250.Misleading, false and deceptive statements
1251.Fees
Delegation of Secretary of State’s functions
1252.Delegation of the Secretary of State’s functions
1253.Delegation of functions to an existing body
1254.Directions to comply with international obligations
1255.Offences by bodies corporate, partnerships and unincorporated associations
1256.Time limits for prosecution of offences
1257.Jurisdiction and procedure in respect of offences
1258.Service of notices
1259.Documents in electronic form
1260.Meaning of “associate”
1261.Minor definitions
1262.Index of defined expressions
1263.Power to make provision in consequence of changes affecting accountancy bodies
1264.Consequential amendments
1265.The transparency obligations directive
1266.Transparency rules
1267.Competent authority’s power to call for information
1268.Powers exercisable in case of infringement of transparency obligation
1269.Corporate governance rules
1270.Liability for false or misleading statements in certain publications
1271.Exercise of powers where UK is host member State
1272.Transparency obligations and related matters: minor and consequential amendments
1273.Corporate governance regulations
1274.Grants to bodies concerned with actuarial standards etc
1275.Levy to pay expenses of bodies concerned with actuarial standards etc
1276.Application of provisions to Scotland and Northern Ireland
1277.Power to require information about exercise of voting rights
1278.Institutions to which information provisions apply
1279.Shares to which information provisions apply
1280.Obligations with respect to provision of information
1281.Disclosure of information under the Enterprise Act 2002
1282.Payment of expenses of winding up
1283.Amendment of memorandum or articles of commonhold association
1284.Extension of Companies Acts to Northern Ireland
1285.Extension of GB enactments relating to SEs
1286.Extension of GB enactments relating to certain other forms of business organisation
1287.Extension of enactments relating to business names
1288.Regulations and orders: statutory instrument
1289.Regulations and orders: negative resolution procedure
1290.Regulations and orders: affirmative resolution procedure
1291.Regulations and orders: approval after being made
1292.Regulations and orders: supplementary
1293.Meaning of “enactment”
1294.Power to make consequential amendments etc
1295.Repeals
1296.Power to make transitional provision and savings
1297.Continuity of the law
1298.Short title
1299.Extent
1300.Commencement
Connected persons: references to an interest in shares or debentures
3.Rights to acquire shares
4.Right to exercise or control exercise of rights
5.Bodies corporate
6.Trusts
Specified persons, descriptions of disclosures etc for the purposes of section 948
Part 1 Specified persons
1.The Secretary of State.
2.The Department of Enterprise, Trade and Investment for Northern Ireland....
3.The Treasury.
4.The Bank of England.
5.The Financial Services Authority.
6.The Commissioners for Her Majesty’s Revenue and Customs.
7.The Lord Advocate.
8.The Director of Public Prosecutions.
9.The Director of Public Prosecutions for Northern Ireland.
10.A constable.
11.A procurator fiscal.
12.The Scottish Ministers.
Part 2 Specified descriptions of disclosures
13.A disclosure for the purpose of enabling or assisting a...
14.A disclosure for the purpose of enabling or assisting an...
15.A disclosure for the purpose of enabling or assisting a...
16.A disclosure for the purpose of enabling or assisting a...
17.A disclosure for the purpose of enabling or assisting a...
18.A disclosure for the purpose of enabling or assisting a...
19.A disclosure for the purpose of enabling or assisting the...
20.A disclosure for the purpose of enabling or assisting a...
21.A disclosure for the purpose of enabling or assisting a...
22.A disclosure for the purpose of enabling or assisting a...
23.A disclosure for the purpose of enabling or assisting the...
24.A disclosure for the purpose of enabling or assisting a...
25.A disclosure for the purpose of enabling or assisting the...
26.A disclosure for the purpose of enabling or assisting the...
27.A disclosure for the purpose of enabling or assisting the...
28.A disclosure for the purpose of enabling or assisting a...
29.A disclosure for the purpose of enabling or assisting the...
30.A disclosure for the purpose of enabling or assisting the...
31.A disclosure for the purpose of enabling or assisting—
32.A disclosure for the purpose of enabling or assisting the...
33.A disclosure for the purpose of enabling or assisting organs...
34.A disclosure for the purpose of enabling or assisting the...
35.A disclosure for the purpose of enabling or assisting the...
36.A disclosure with a view to the institution of, or...
37.A disclosure for the purpose of enabling or assisting an...
38.A disclosure for the purpose of enabling or assisting the...
39.A disclosure for the purpose of enabling or assisting the...
40.A disclosure for the purpose of enabling or assisting the...
41.A disclosure by the National Lottery Commission to the National...
42.A disclosure for the purpose of enabling or assisting a...
43.A disclosure for the purpose of enabling or assisting an...
44.A disclosure for the purpose of enabling or assisting an...
45.A disclosure for the purpose of enabling or assisting a...
46.A disclosure for the purpose of enabling or assisting the...
47.A disclosure for the purpose of enabling or assisting the...
48.A disclosure for the purpose of enabling or assisting a...
49.A disclosure for the purpose of enabling or assisting a...
50.A disclosure for the purpose of enabling or assisting a...
51.A disclosure for the purpose of enabling or assisting a...
52.A disclosure with a view to the institution of, or...
53.A disclosure for the purpose of enabling or assisting a...
54.A disclosure for the purpose of enabling or assisting a...
55.A disclosure for the purpose of enabling or assisting an...
56.A disclosure for the purpose of enabling or assisting the...
57.A disclosure for the purpose of enabling or assisting a...
58.A disclosure for the purpose of enabling or assisting an...
59.A disclosure for the purpose of enabling or assisting the...
60.A disclosure with a view to the institution of, or...
61.A disclosure for the purpose of enabling or assisting a...
62.A disclosure with a view to the institution of, or...
63.A disclosure with a view to the institution of, or...
64.A disclosure for the purposes of proceedings before the Financial...
65.A disclosure for the purposes of proceedings before the Pensions...
66.A disclosure for the purpose of enabling or assisting a...
67.A disclosure with a view to the institution of, or...
68.A disclosure with a view to the institution of, or...
69.A disclosure for the purpose of the provision of a...
70.A disclosure in pursuance of any Community obligation.
Part 3 Overseas regulatory bodies
71.A disclosure is made in accordance with this Part of...
72.The persons or bodies that are within this paragraph are...
73.In determining whether to disclose information to a person or...
Amendments of remaining provisions of the Companies Act 1985 relating to offences
1.Failure to give information about interests in shares etc
2.Obstruction of rights conferred by a warrant or failure to comply with requirement under section 448
3.Wrongful disclosure of information to which section 449 applies
4.Destruction, mutilation etc of company documents
5.Provision of false information in purported compliance with section 447
6.Obstruction of inspector, etc exercising power to enter and remain on premises
7.Attempted evasion of restrictions under Part 15
Documents and information sent or supplied to a company
Part 2 Communications in hard copy form
3.Method of communication in hard copy form
4.Address for communications in hard copy form
Part 3 Communications in electronic form
6.Conditions for use of communications in electronic form
7.Address for communications in electronic form
Part 4 Other agreed forms of communication
8.A document or information that is sent or supplied to...
Communications by a company
1.Application of this Schedule
6.Agreement to communications in electronic form
Part 4 Communications by means of a website
9.Agreement to use of website
10.Deemed agreement of members of company etc to use of website
11.Deemed agreement of debenture holders to use of website
12.Availability of document or information
13.Notification of availability
14.Period of availability on website
Part 5 Other agreed forms of communication
15.A document or information that is sent or supplied otherwise...
16.Joint holders of shares or debentures
17.Death or bankruptcy of holder of shares
Meaning of “subsidiary” etc: supplementary provisions
2.Voting rights in a company
3.Right to appoint or remove a majority of the directors
4.Rights exercisable only in certain circumstances or temporarily incapable of exercise
5.Rights held by one person on behalf of another
6.(1) Rights held by a person as nominee for another...
7.Rights attached to shares held by way of security
8.Rights attributed to holding company
9.Disregard of certain rights
2.Voting rights in an undertaking
4.Right to exercise dominant influence
5.Rights exercisable only in certain circumstances or temporarily incapable of exercise
6.Rights held by one person on behalf of another
7.(1) Rights held by a person as nominee for another...
8.Rights attached to shares held by way of security
9.Rights attributed to parent undertaking
10.Disregard of certain rights
Part 1 The Companies Act 1985 (c. 6)
1.In section 240 (requirements in connection with publication of accounts)—...
2.In section 245 (voluntary revision of annual accounts or directors'...
3.In section 249A (exemptions from audit)— (a) omit subsections (2),...
4.In section 249B (cases where exemptions not available)—
5.Omit section 249C (report required for purposes of section 249A(2))....
6.Omit section 249D (the reporting accountant).
7.In section 249E (effect of exemptions) omit subsection (2).
8.In section 262A (index of defined expressions) omit the entry...
Part 2 The Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6)
9.In Article 248 (requirements in connection with publication of accounts)—...
10.In Article 253 (voluntary revision of annual accounts or directors'...
11.In Article 257A (exemptions from audit)— (a) omit paragraphs (2),...
12.In Article 257B (cases where exemptions not available)—
13.Omit Article 257C (report required for purposes of Article 257A(2)....
14.Omit Article 257D (the reporting accountant).
15.In Article 257E (effect of exemptions) omit paragraph (2).
16.In Article 270A (index of defined expressions) omit the entry...
Part 1 Grant and revocation of recognition of a supervisory body
1.Application for recognition of supervisory body
2.Grant and refusal of recognition
3.Revocation of recognition
5.Orders not statutory instruments
Part 2 Requirements for recognition of a supervisory body
6.Holding of appropriate qualification
7.(1) This paragraph explains what is meant in paragraph 6(1)(b)...
8.Auditors to be fit and proper persons
9.Professional integrity and independence
10.Technical standards
11.Procedures for maintaining competence
12.Monitoring and enforcement
13.Independent monitoring of audits of listed companies and other major bodies
14.Membership, eligibility and discipline
15.Investigation of complaints
16.Independent investigation for disciplinary purposes of public interest cases
17.Meeting of claims arising out of audit work
18.Register of auditors and other information to be made available
19.Taking account of costs of compliance
20.Promotion and maintenance of standards
Part 3 Arrangements in which recognised supervisory bodies are required to participate
21.Arrangements for setting standards relating to professional integrity and independence
22.Arrangements for setting technical standards
23.Arrangements for independent monitoring of audits of listed companies and other major bodies
24.Arrangements for independent investigation for disciplinary purposes of public interest cases
25.Supplementary: arrangements to operate independently of body
26.Supplementary: funding of arrangements
27.Supplementary: scope of arrangement
Part 1 Grant and revocation of recognition of a professional qualification
1.Application for recognition of professional qualification
Part 2 Requirements for recognition of a professional qualification
7.Requirement for theoretical instruction or professional experience
8.Examination
9.Practical training
10.Supplementary provision with respect to a sufficient period of professional experience
11.The body offering the qualification
Arrangements in which registered third country auditors are required to participate
1.Arrangements for independent monitoring of audits of traded non-Community companies
2.Arrangements for independent investigations for disciplinary purposes
3.Supplementary: arrangements to operate independently of third country auditor
4.Supplementary: funding of arrangements
5.Supplementary: scope of arrangements
6.Specification of particular arrangements by the Secretary of State
Supplementary provisions with respect to delegation order
1.Operation of this Schedule
3.Name, members and chairman
4.Financial provisions
7.Legislative functions
8.(1) Immediately after an instrument is made it must be...
9.(1) The production of a printed copy of an instrument...
10.Report and accounts
11.Other supplementary provisions
12.Where a delegation order is revoked, the Secretary of State...
13.(1) This paragraph applies where the body is an unincorporated...
Statutory auditors: consequential amendments
1.Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27)
Transparency obligations and related matters: minor and consequential amendments
Part 1 Amendments of the Financial Services and Markets Act 2000
1.Part 6 of the Financial Services and Markets Act 2000...
2.In section 73 (general duty of competent authority), after subsection...
3.In section 73A (Part 6 Rules), after subsection (5) insert—...
4.For the cross-heading before section 90 substitute “Compensation for false...
5.For the heading to section 90 substitute “Compensation for statements...
6.(1) Section 91 (penalties for breach of Part 6 rules)...
7.In section 96B (persons discharging managerial responsibilities and connected persons)—...
8.In section 97(1) (appointment by the competent authority of persons...
9.In section 99 (fees) after subsection (1B) insert—
10.(1) Section 102A (meaning of “securities” etc) is amended as...
11.(1) Section 103(1) (interpretation of Part 6) is amended as...
12.In section 429(2) (Parliamentary control of statutory instruments: affirmative procedure)...
Part 2 Amendments of the Companies (Audit, Investigations and Community Enterprise) Act 2004
13.Chapter 2 of Part 1 of the Companies (Audit, Investigations...
14.(1) Section 14 (supervision of periodic accounts and reports of...
15.(1) Section 15 (application of certain company law provisions to...