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Companies Act 2006

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Companies Act 2006 c i e AT 13 of 2006 COMPANIES ACT 2006 Companies Act 2006 Index c i e COMPANIES ACT 2006 Index Section Page PART I – INCORPORATION AND STATUS OF COMPANIES 11 CHAPTER 1 - INCORPORATION 11 1 Types of company ......................................................................................................... 11 2 Application to incorporate a company ...................................................................... 11 3 Incorporation of a company ........................................................................................ 12 4 Subscribers become members of the company on incorporation .......................... 12 CHAPTER 2 - MEMORANDUM AND ARTICLES 12 5 Memorandum................................................................................................................ 12 6 Power to prescribe model articles .............................................................................. 13 7 Effect of memorandum and articles ........................................................................... 14 8 Amendment of memorandum and articles ............................................................... 14 9 Filing of notice of amendment of memorandum or articles ................................... 15 10 Provision of copies of memorandum and articles to members .............................. 15 CHAPTER 3 - COMPANY NAMES 15 11 Required part of company name ................................................................................ 15 12 Requirement for name approval ................................................................................ 16 13 Foreign character name ................................................................................................ 16 14 Company may change name ....................................................................................... 16 15 [Repealed] ...................................................................................................................... 17 16 [Repealed] ...................................................................................................................... 17 17 [Repealed] ...................................................................................................................... 17 18 [Repealed] ...................................................................................................................... 17 19 Use of company name .................................................................................................. 17 CHAPTER 4 - CAPACITY AND POWERS 17 20 Separate legal entity ..................................................................................................... 17 21 Capacity ......................................................................................................................... 17 22 Power of directors to bind the company ................................................................... 18 23 Personal liability ........................................................................................................... 18 24 Constructive notice ....................................................................................................... 18 c AT 13 of 2006 Page 3 Index Companies Act 2006 PART II – SHARES 19 CHAPTER 1 - GENERAL 19 25 Application of this Part................................................................................................ 19 26 Legal nature of shares .................................................................................................. 19 27 Rights attaching to shares ........................................................................................... 19 28 Types of shares ............................................................................................................. 19 29 Par value and no par value shares ............................................................................. 20 30 Prohibition on bearer shares ....................................................................................... 20 31 Fractional shares ........................................................................................................... 20 32 Alteration of share capital ........................................................................................... 21 33 Share certificates ........................................................................................................... 21 CHAPTER 2 - ISSUE OF SHARES 22 34 Issue of shares ............................................................................................................... 22 35 Power to pay commissions ......................................................................................... 22 36 Pre-emptive rights ........................................................................................................ 22 37 Consideration for shares ............................................................................................. 23 38 Shares issued for consideration other than money ................................................. 23 39 Consent to issue of shares ........................................................................................... 23 40 Time of issue ................................................................................................................. 23 41 Lien on shares ............................................................................................................... 23 42 Calls on shares .............................................................................................................. 24 43 Forfeiture of shares ...................................................................................................... 25 44 Variation of class rights ............................................................................................... 25 45 Offering documents ..................................................................................................... 26 CHAPTER 3 - TRANSFER OF SHARES 27 46 Transferability of shares .............................................................................................. 27 47 Method of transfer of shares ....................................................................................... 28 48 Transfer of securities without a written instrument ............................................... 28 PART III – DISTRIBUTIONS 30 49 Meaning of “solvency test” and “distribution” ....................................................... 30 50 Distributions ................................................................................................................. 30 51 Recovery of distributions made when company did not satisfy solvency test .................................................................................................................................. 30 52 Company may purchase, redeem or otherwise acquire its own shares ............... 31 53 Process for purchase redemption or other acquisition of own shares .................. 31 54 Offer to one or more shareholders ............................................................................. 32 55 Redemption of shares .................................................................................................. 33 56 Effect of company’s failure to purchase, redeem or acquire own shares ............. 33 57 Dividends ...................................................................................................................... 34 58 Reduction of share capital ........................................................................................... 34 Treasury shares 35 58A Power to permit the holding of treasury shares ...................................................... 35 Page 4 AT 13 of 2006 c Companies Act 2006 Index PART IV – MEMBERS 35 59 Meaning of “shareholder”, “guarantee member” and “unlimited member” ...... 35 60 Company to have one or more members .................................................................. 36 61 Liability of members..................................................................................................... 36 62 Register of members ..................................................................................................... 37 63 Register of members as evidence of legal title .......................................................... 37 64 Rectification of register of members .......................................................................... 38 65 Members’ resolutions ................................................................................................... 38 66 Votes of members ......................................................................................................... 39 67 Meetings of members ................................................................................................... 39 68 Notice of meetings of members .................................................................................. 40 69 Quorum for meetings of members ............................................................................. 40 70 Court may call meeting of members .......................................................................... 41 71 Written resolutions ....................................................................................................... 41 72 Service of notices on members .................................................................................... 41 PART V – COMPANY ADMINISTRATION 42 73 Registered office ...........................................................................................................
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