Introduction About Model Articles of Association
Model articles are the most commonly used articles by corporations in the United Kingdom, as these articles are applied by default to all corporations, except if the business selects to accept other articles. Model articles are consistent for all organisations and by default can be used by an organisation – these article of association are approved by the Companies Act 2006 . It is mandatory for all limited companies, in the United Kingdom, to have an article of association. These articles define the rules which must be followed by company officers while operating their businesses. In accordance with section 20 Companies Act 2006, model articles will be completely applied to an organisation if it doesn’t take on any other articles. Also, if an organisation adopts tailored articles which don’t disregard or amend the pertinent model articles, then the relevant model articles will form part of a corporation’s articles of association
Since their introduction, a few alterations have been made to the model articles. The most recent model articles apply, by default, to all public and private limited corporations incorporated on or post 28-Apr-13.
Below Mentioned are the Versions Available for Each of the 3 Limited Company Types:
- Model articles for private companies limited by shares
- Model articles for public companies
- Model articles for private companies limited by guarantee
Summary of the foremost necessities encompassed in the Model Articles for private companies limited by shares which are covered in schedule 1 of the corporations regulations 2008 are:
Any questions? Schedule a call with one of our experts.
Whether you prefer to meet and speak over the internet, or if you prefer an in person conversation we can help you with your preference.
Stay up-to-date with the latest news affecting small businesses, get business tips and tax saving advice.