Q&As

A is the founder and trustee of a charitable company. Can A add to the permanent endowment but with different voting rights to those set out in the existing articles? The articles of the company do not permit A to have a 'veto' or 'golden vote' which A could trigger if A felt the other trustees were taking the charity in a direction with which A disagreed.

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Published on LexisPSL on 04/08/2016

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • A is the founder and trustee of a charitable company. Can A add to the permanent endowment but with different voting rights to those set out in the existing articles? The articles of the company do not permit A to have a 'veto' or 'golden vote' which A could trigger if A felt the other trustees were taking the charity in a direction with which A disagreed.
  • Companies limited by guarantee
  • Restricted funds

Companies limited by guarantee

The members of a company limited by guarantee are granted their membership by virtue of the articles of association of the company. Unlike companies limited by shares, their rights are not granted by virtue of ownership of a particular asset. For further information, see Practice Note: Companies limited by guarantee.

The articles of association of a company can only be amended by a special resolution of the members of the company. These articles can be tailored specifically to the requirements of a company, including creating a new class of membe

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