Notesale: Turn your study into money

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1
...
59(1))

Plc (s
...
Shareholders?

1 (s
...
7(1) & 8(1)

Min
...
154(1)

2 (s
...
270(1))

Yes (s
...
15(4))

Certificate of Incorporation
(s
...
761(1) & (2))

•

Min
...
8(1)(b))

Min
...
763(1)(a)(b))

Principle of Maintenance of Share Capital;

Offer of Shares to
the Public?

Prohibited (s
...
Amount
Payable for Share
Capital

No restriction
(s
...
593(1))
25% of nominal value must
be paid on allotment (+
whole of any premium)
(s
...
/Disclosure:

None

Expenses:

None

Management:

Partnership Agreement (default provisions apply)

Shares are issued by a company to raise finance
Each share must have a fixed nominal/par value (s
...
g
...
g
...
790D: Duty on companies to identify their PSC’s
S
...

2
...
/Disclosure:

Registered Office, Members Details, Accounts, PSC’s

Expenses:

Audited Annual Accounts, Confirmation Statement

Management:

Partnership Agreement (LLPA default provisions)

LTD (LIMITED COMPANY)

Shareholders exercise ultimate control over the company; and
Shareholders hope to receive a financial return on their investment
Determining the company’s constitution (Articles of Association)
Voting on Shareholder Resolutions

Articles of Association (AA):
•
•

•
•

Determine the internal management of the company and set out rules that
both directors and shareholder must follow
The AA form a contract between the shareholders and the company
o
The directors are not a party to this contract, but a d

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