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If a company is unable to pay its debts as they fall due, UK insolvency law requires an administrator to attempt a rescue of the company (if the company itself has the assets to pay for this). If rescue proves impossible, a company's life ends when its assets are liquidated, distributed to creditors and the company is struck off the register.
The Companies Act 2006 (c. 46) is an act of the Parliament of the United Kingdom which forms the primary source of UK company law. The act was brought into force in stages, with the final provision being commenced on 1 October 2009. It largely superseded the Companies Act 1985.
The Companies Act 1862 [1] (25 & 26 Vict. c. 89) was an Act of the Parliament of the United Kingdom regulating UK company law, whose descendant is the Companies Act 2006. Provisions [ edit ]
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.
The Companies Act 1985 (c. 6) is an Act of the Parliament of the United Kingdom of Great Britain and Northern Ireland, enacted in 1985, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries. It has largely been superseded by the Companies Act 2006.
The Limited Liability Act 1855 (18 & 19 Vict. c. 133) was an act of the Parliament of the United Kingdom that first expressly allowed limited liability for corporations that could be established by the general public in England and Wales as well as Ireland. [2]
The Companies Act 1947 (10 & 11 Geo. 6. c. 47) was a United Kingdom Act of Parliament, that updated UK company law after the Companies Act 1929. It covered issues such as winding-up and bankruptcy. [1] It was soon recodified in the Companies Act 1948.
The UK Corporate Governance code, formerly known as the Combined Code [1] (from here on referred to as "the Code") is a part of UK company law with a set of principles of good corporate governance aimed at companies listed on the London Stock Exchange.