Company incorporation—glossary of terms

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Company incorporation—glossary of terms


Alternative record-keepingProvisions in Part 8 of the Companies Act 2006 (CA 2006), as inserted by Schedule 5 of The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) to give private companies and LLPs the option of keeping certain information on the central register kept by the Registrar of Companies instead of keeping it on their own registers.
For further information see Practice Note: Alternative record-keeping—electing to maintain information on the central register.
Articles of associationGenerally referred to simply as the Articles. The principal constitutional document of a company (see also Memorandum of association), dealing with management and administration issues, most notably the powers of directors, the transfer and issue of shares, and board and member meetings. The Articles form the fundamental contract between the company and the shareholders, and must be available for public inspection at Companies House. The founders (or initial subscribers) and subsequent shareholders of a company have significant freedom when drafting the Articles, subject to the provisions of the Companies Act 2006 (CA 2006) and related secondary legislation. Many companies make use of the various Model Articles provided in the Companies (Model Articles) Regulations 2008 (SI 2008/3229) as a starting point for their constitutional structure (eg see precedent: Articles of association—private limited company).



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