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The Companies (Model Articles) Regulations 2008 (SI 2008/3229) are the default company constitution for limited companies under UK company law.The Model Articles will apply to a limited company if it does not register its own articles or, if it does register them, they will apply to the extent that they are not modified by the Articles of the company.
A private company limited by shares, or an unlimited company with a share capital, may re-register as a public limited company (PLC). A private company must pass a special resolution that it be so re-registered and deliver a copy of the resolution together with an application form 43(3)(e) to the Registrar.
Table A in UK company law is the old name for the Model Articles or default form of articles of association for companies limited by shares incorporated either in England and Wales or in Scotland before 1 October 2009 where the incorporators do not explicitly choose to use a modified form.
Companies limited by shares also acquire finance through 'equity' (a synonym for the share capital). Shares differ from debt in that shareholders rank last in insolvency. The main justification for shareholders' residual claim is that, unlike many creditors (though not large banks) they are capable of diversifying their portfolio.
A private limited company, by its Articles of Association: (i) Restricts the right to transfer its shares; (ii) Limits the number of its members to fifty; and; (iii) Prohibits any invitation to the public to subscribe for shares or debentures of the company. A private limited company is required to use the words "(Private) Limited" as the last ...
The articles of association (often referred to as just ‘articles’) is the document which sets out the rules for the running of the company's internal affairs. The company's articles are delivered to the Registrar at incorporation. In the event that no articles are registered for the new company, the model (default) articles will be registered.
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Part 17 A company's share capital, ss 540–657; Part 18 Acquisition by limited company of its own shares, ss 658–737; Part 19 Debentures, ss 738–754; Part 20 Private and public companies, ss 755–767; Part 21 Certification and transfer of securities, ss 768–790; Part 22 Information about interests in a company's shares, ss 791–828