Shareholders of a company have..
Limited liability
Steps of incorporation
Companies House form
Statement of capital
Proposed officers
Persons with significant control >25%
Statement of compliance
Articles of association
What happens if you don’t prepare articles of association
Adopt model articles
How does a PLC change its articles of association
Special resolution with 14 days notice
Can a member of a PLC appoint a proxy to attend and vote on their behalf at the AGM
Yes
Creating a PLC
Trading certificate
£50k of shares
Call up 25% of NV plus 100% share premium
2 + Directors
Must hold AGM
Must appoint co secretary
Rules of special resolution
Must be filed at co house within 15 days of passing
Majority 75% of all votes
Who can petition to remove director & how
Board members - ordinary resolution, special notice, 28 days, vote within 6 weeks
Role of company secretary
Deal with all legal admit
Maintain registers
File special resolution
File annual confirmation statement
File Y/E accounts
Co B is a subsidiary of Co A if
Co A holds >50% of shares in Co A
Co A has the power to appoint >50% of the board of Co A
