The following Corporate practice note provides comprehensive and up to date legal information covering:
This Practice Note summarises the procedure to amend or change a company’s articles of association in accordance with the Companies Act 2006 (CA 2006).
There are many different reasons why a company may want, or be required, to amend its articles of association. The following are a few common examples of reasons to change the articles:
the company has changed its name and it needs to update references to its name in its articles of association
the company is changing its status, for example it is re-registering from a public limited company to a private limited company, and it needs to update its articles to reflect such change and to make consequential amendments in relation to the different requirements for private limited companies
the company wishes to alter the rights attaching to its shares or is introducing a new class of shares
the law has recently changed and the company wishes to update its articles to reflect the new law
the company wishes to make general improvements to the language or style of the articles of association, or
the company has recently been acquired by a new parent company and wishes to adopt new articles of association that are consistent with other group companies' articles
A company's articles of association may, subject to certain limitations described below (see section entitled Limitations), be amended
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.