Corporate joint ventures—glossary of terms
Corporate joint ventures—glossary of terms

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Corporate joint ventures—glossary of terms
  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • J
  • more

A

Alternate director An individual (whether another director or any other person) appointed by a director to exercise that director’s powers and carry out that director’s responsibilities in relation to the taking of decisions by the directors, in the absence of the alternate's appointor. Unlike the Table A articles, the Model Articles for private companies limited by shares do not contain provisions about the appointment or removal of alternate directors. A company that has adopted bespoke articles of association may include provisions for the appointment, removal, rights and responsibilities of alternates (for example see article 4 of Precedents: Articles of association—joint venture company—deadlock (50:50) and Articles of association—joint venture company—majority or minority).
Articles of association Generally referred to simply as the Articles. It is the principal constitutional document of a company, 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,