Is your company's constitution fit for the
The forthcoming implementation of the Companies Act has led to the publication of new sets of draft model articles. The familiar Table A will be replaced by two sets of model articles - one for public companies and one for private companies limited by shares. There are big and important differences between the two, and they both differ from Table A. Interesting features of the new draft model articles include:
- In private companies the chairman does not have a casting vote at a board meeting
- Private companies can not issue partly paid shares
- In private companies the directors have total discretion to refuse to register the transfer of a share
- Subject to conditions, electronic meetings of shareholders are permitted
- Directors, acting unanimously, may dismiss a director
- Subject to conditions and if the directors so wish, exchanges of e-mails over several days can count as a formal board decision.
For the first time there will also be full model articles for companies limited by guarantee.
Now is the time to examine whether your company's constitution is fit for the 21st Century.
How do you find out how the new Companies Act affects you?
We are presenting two specific seminars which will help people understand the ramifications of the new Companies Act on their particular role. The demand for places is extremely high. To cater for the demand we have arranged presentations in Newcastle, Manchester, Birmingham, Milton Keynes, Bristol, Nottingham and London in June – several of which are already full.
If you are a Company Secretary the seminar Helping Company Secretaries Implement the New Companies Act is for you.
If you are a Company Director the seminar The New Companies Act - A Company Director's Survival Guide is for you.
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