UK Companies Act 2006: Final Changes Coming into Force on 1 October 2009

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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 update below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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