Summary of Key Changes Coming into Force on 1 October 2009
*The objects of companies incorporated after 1 October 2009 are unrestricted unless expressly restricted by the articles. The objects of companies incorporated prior to 1 October 2009 will be deemed to be included in its articles of association but can be amended or removed by special resolution.
*The concept of authorised share capital has been abolished.
*The Companies Act 2006 (“CA 2006”) introduces the concept of “model form” articles rather than Table A articles. Whilst companies will still be able to adopt Table A articles after 1 October 2009 we anticipate that most companies will want to take advantage of the new “model form” articles.
*Companies House forms relating to company filings have changed. The new forms must be used for transactions taking
place from 1 October 2009 onwards. Filings made after this date on the old forms will be rejected.
*A company may alter its name other than by way of a special resolution if its articles provide for this.
Please see full publication below for more information.