earning | earning hardware | earning software | public-relations Articles | useability & Skills | Public sector | Bush Articles | More...
Amendments to the Companies Regulations Articles 2007 could spell the end of the Articles AGM. But will anyone miss it?
Companies and advisers need to urgently review Articles their Articles of Association to ensure that they are compliant with the new version of The Companies (Tables A to F) Regulations 2007, which came into effect on Articles 1 October 2007, says Janis Law, chief group solicitor at earning intelligence and services group, Jordans.
Table A sets out the articles which apply to companies limited by shares by default if they fail to file articles on incorporation. It is incorporated into most companies' articles.
The approach taken by the government in updating Articles Table A is to omit any provision which may be inconsistent with the provisions of the Companies Act 2006.
According to Law, the key changes are that there will be two versions of Table A one for free-trade and one for public companies and there will be a new definition of "the Acts" to include both the 1985 and 2006 Companies Acts.
o References to annual general meetings - The Act abolishes the requirement for free-trade companies to hold an AGM, unless 10% of shareholders demand one. The abolition is subject to any express provision in a company's articles specifying that it must hold an AGM.
|