This Practice Note covers the qualification for allocation of housing by a local housing authority (LHA) in England which was introduced by the Localism Act 2011 (LA 2011) into the Housing Act 1996 (HA 1996). It does not apply in Wales. It covers the general provisions applicable to allocation, the extra considerations in relation to the armed forces, the right to move and the interrelationship between the various considerations. LA 2011 made important amendments to HA 1996, Pt VI: the allocation of housing accommodation. An important amendment was the introduction—in England only, not in Wales—of ‘qualification’ for allocation, as well as ‘eligibility’. Now, in England, if a person is eligible for an allocation of housing (broadly, if they have the correct immigration status, see Practice Note: Allocation—eligibility) but is not a qualifying person then they cannot be allocated housing accommodation by an LHA. This Practice Note deals with the meaning of qualifying person, as well as including different classes of qualifying persons, the interplay between that concept

Shares in a company are taken to be allotted when a person acquires the unconditional right to be included in the company’s register of members in respect of the shares (Companies Act 2006, s 558). Allotment is followed by the issue of the shares.

STOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024, which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories. A new UK Listing Rules sourcebook came into force to implement the changes and the previous Listing Rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This fundamentals note reflects the listing regime as it was prior to 29 July 2024. A company’s share capital comprises the number of shares it has allotted and issued to shareholders at any given time. Subject to certain exceptions, the directors of a company must not exercise any power of the company to allot shares in the company (or to grant rights to subscribe for, or convert any security into, shares), other than in accordance

The allotment of shares and issue of shares is governed by statute and the applicable statutory provisions differ according to the type of company that is proposing the allotment and whether that company has a single class of shares or multiple classes. For specific information on allotments by different types of companies, see Practice Notes: Allotment and issue of shares—private companies with one class of shares, Allotment and issue of shares—private companies with more than one class of share and public unlisted companies and Allotment and issue of shares—listed companies. The additional rules, regulations and guidance relating to the allotment of shares that are applicable to a listed company, an AIM company or a company with securities that are listed on any of the markets operated by the Aquis Stock Exchange are outside the scope of this Practice Note. Definitions of ‘allotment’ and ‘issue’ The terms 'allotment' and 'issue' are often used interchangeably in relation to new shares in the capital of a company, however, the terms do have distinct legal meanings which are important to

STOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024, which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories. A new UK Listing Rules sourcebook came into force to implement the changes and the previous Listing Rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This Practice Note reflects the listing regime as it was prior to 29 July 2024. This Practice Note covers the issues relating to the allotment of shares or the grant rights to subscribe for, or to convert any security into, shares by a listed company. It also considers the process to be followed when the directors of such a company are seeking such an authority to allot or grant rights at its annual general

Subject to some exceptions, the directors of a company must not exercise any power of the company to allot shares in the company or to grant rights to subscribe for, or convert any security into, shares in the company except in accordance with the appropriate statutory provisions for: • private companies with a single class of shares, or • private companies with more than one class of shares or public companies (whether listed or unlisted) For further information on allotments generally and allotments by different types of company, see Practice Notes: Allotment and issue of shares—introductory points, Allotment and issue of shares—private companies with one class of shares, Allotment and issue of shares—private companies with more than one class of share and public unlisted companies and Allotment and issue of shares—listed companies. This Practice Note covers the penalties for breach of the allotment provisions in the Companies Act 2006 (CA 2006). It does not consider any other legislation or guidelines (as applicable). Allotment of shares without the appropriate authorisation A director

The allotment and issue of shares is governed by statutory rules, which differ according to the type of company which is proposing the allotment (private or public, listed or unlisted) and whether that company has a single or multiple classes of shares. This Practice Note considers the allotment and issue of shares by a private company with a single class of shares that proposes to allot shares of a different class, a private company with more than one class of shares and a public unlisted company (being a company that is not a listed company, AIM company or a company with securities traded on the AQSE Main Market, AQSE Growth Market or AQSE Trading). For general information, see Practice Note: Allotment and issue of shares—introductory points. For information on the allotment and issues of shares for other types of companies, see Practice Notes: Allotment and issue of shares—private companies with one class of shares and Allotment and issue of shares—listed companies. Subject

The allotment and issue of shares is governed by statutory rules, which differ according to the type of company which is proposing the allotment (private or public, listed or unlisted) and whether that company has a single or multiple classes of shares. This Practice Note considers the allotment and issue of shares by a private company with a single class of shares that proposes to allot shares of the same class. For general information on allotments by all companies, see Practice Note: Allotment and issue of shares—introductory points. For information on the allotment and issue of shares for other types of companies, see Practice Notes: Allotment and issue of shares—private companies with more than one class of share and public unlisted companies and Allotment and issue of shares—listed companies. Subject to certain exceptions, a director of a private company with only one class of shares in issue that proposes to allot shares of the same class as that in existence must not exercise any power of the company to allot

The relevant authority under CA 2006, ss 549–551 giving the directors authority to allot shares in the company, or to grant rights to subscribe for, or to convert any security into, shares in the company. In a private company with only one class of shares the directors may allot shares unless prohibited from doing so by the articles of association. For all other companies such authority must be derived from express power in the articles of association or by a resolution of the company.

CA 2006, s 560(2) provides that, for the purpose of the CA 2006 provisions applying the pre-emption-rights'>statutory pre-emption rights to ‘the allotment of equity securities’ (see CA 2006, s 561), references to ‘the allotment of equity securities’ include ‘the grant of a right to subscribe for, or to convert any securities into, ordinary shares in the company and do not include the allotment of shares pursuant to such a right’.

STOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024, which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories. A new UK Listing Rules sourcebook came into force to implement the changes and the previous Listing Rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This Checklist reflects the listing regime as it was prior to 29 July 2024. The allotment and issue of shares is governed by statutory rules, which differ according to the type of company which is proposing the allotment (private or public, listed or unlisted) and whether that company has a single or multiple classes of shares. This checklist sets out the procedure for the allotment of shares and disapplication of

The Companies Act 2006 (CA 2006) governs the allotment of shares and the disapplication of pre-emption rights. The rules differ according to the type of company which is proposing the allotment (private or public, listed or unlisted) and whether that company has a single or multiple classes of shares. Additional rules apply to listed companies or AIM companies. This Checklist sets out the procedure relating to the allotment of shares and the disapplication of statutory pre-emption rights for private companies with more than one class of shares and public unlisted companies. For general information on allotment and issue by, and pre-emption rights as they apply to, all companies, see Practice Notes: Allotment and issue of shares—introductory points and Pre-emption rights—general issues. For further and more detailed information about allotments of shares and pre-emption rights in relation to private companies with only more than one class of shares and public unlisted companies, see Practice Notes: Allotment and issue of shares—private companies