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Companies Act 2006 - Articles of Association

We have had several queries from clients who wish to benefit from some of the changes made under the Companies Act 2006 - a common one being the removal of the need to hold an Annual General Meeting.

The bad news is that unfortunately the majority of companies are still formed under the 1985 Companies and might not find this to be so simple in practice. This is largely because the Articles of Association of these companies refer to the 1985 'Table A' which sets out how the company should conduct itself.

In these cases the company will need to amend their Articles of Association to benefit from the changes introduced under the Companies Act 2006. This will entail either amending the current articles or adopting new articles of association, (which might be easier and probably cheaper.) These would need to be filed at Companies House with a written resolution. If you opted for new articles of association these would need to be drafted by your solicitor or specialised Company Secretary until the new 2006 model articles are available for adoption which is scheduled for October 2009.

 

 

Date: 4th February, 2009
Author: Gary Farnes

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