The Financial Conduct Authority (FCA) has launched a consultation on targeted changes to the UK Listing Rules for closed-ended investment funds to...
This week's edition of Corporate weekly highlights includes a call for enforcement of Companies House reforms by Spotlight on Corruption, an update by...
The Financial Reporting Council (FRC) has published a staff guidance note explaining that companies whose shares are traded on the Private...
The Financial Reporting Council (FRC) has revised three UK auditing standards—ISA (UK) 700, ISA (UK) 701 and ISA (UK) 720—following a public...
Separate legal personality and the corporate veilCorporate legal personality—the Salomon principleA properly formed registered company is a separate...
A company’s constitutionWhat is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as...
Allotment and issue of shares—fundamentalsSTOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024, which...
Private companies limited by sharesThis Practice Note summarises the main features of a private company limited by shares. It also covers key...
Can a director grant a power of attorney to another director?This Q&A considers whether a director is able to grant a power of attorney to another director of the same company in light of the general rule that a director cannot delegate the functions of his office.Generally, the office of
What is the difference between a traded company, a quoted company, and a listed company?The terms ‘traded company’, ‘quoted company’ and ‘listed company’ are often confused or used interchangeably. They do however have specific definitions for specific contexts.Traded companyThe Companies Act 2000
What is the procedure for reconstitution of a company's statutory books that have been lost/destroyed?Due diligenceIn this Q&A we have assumed that the company in question is a private company limited by shares.If a company has lost all statutory books, or they have been destroyed, the company
What is a capital contribution reserve? A capital contribution reserve typically arises when an irrevocable gift has been made to a company by a shareholder (ie new shares are not issued in consideration). Such a payment often arises in the context of overseas companies, where a parent company makes
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