SCHEDULES
SCHEDULE 19 Minor amendments of the Companies Act 1985
Correction of cross-reference
1
In section 131(1) of the M1Companies Act 1985 (merger relief) for “section 132(4)” substitute “section 132(8)”.
This amendment shall be deemed always to have had effect.
Particulars to be given of directors and secretaries
2
1
Section 289 of the Companies Act 1985 (particulars of directors required to be entered in register) is amended as follows.
2
In subsection (1)(a) (particulars of individual directors)—
a
in sub-paragraph (i) for “Christian name and surname” and in sub-paragraph (ii) for “Christian name or surname” substitute “name”, and
b
for sub-paragraph (vii) substitute—
vii
the date of his birth;
3
In subsection (1)(b) (particulars of other directors) after “corporation” insert “or Scottish firm” and after “corporate” insert “or firm”.
4
For subsection (2) substitute—
2
In subsection (1)(a)—
a
“name” means a person’s Christian name (or other forename) and surname, except that in the case of a peer, or an individual usually known by a title, the title may be stated instead of his Christian name (or other forename) and surname, or in addition to either or both of them; and
b
the reference to a former name does not include—
i
in the case of a peer, or an individual normally known by a British title, the name by which he was known previous to the adoption of or succession to the title, or
ii
in the case of any person, a former name which was changed or disused before he attained the age of 18 years or which has been changed or disused for 20 years or more, or
iii
in the case of a married woman, the name by which she was known previous to the marriage.
3
1
Section 290 of the Companies Act 1985 (particulars of secretaries to be entered in register) is amended as follows.
2
In subsection (1)(a) (particulars of individuals) for “Christian name and surname” and “Christian name or surname” substitute “name”.
3
For subsection (3) substitute—
3
Section 289(2)(a) and (b) apply for the purposes of the obligation under subsection (1)(a) of this section to state the name or former name of an individual.
4
1
Section 305 of the Companies Act 1985 (directors’ names on company correspondence, &c.) is amended as follows.
2
In subsection (1) for the words from “the Christian name” onwards substitute “the name of every director of the company”.
3
For subsection (4) substitute—
4
For the purposes of the obligation under subsection (1) to state the name of every director of the company, a person’s “name” means—
a
in the case of an individual, his Christian name (or other forename) and surname; and
b
in the case of a corporation or Scottish firm, its corporate or firm name.
5
The initial or a recognised abbreviation of a person’s Christian name or other forename may be stated instead of the full Christian name or other forename.
6
In the case of a peer, or an individual usually known by a title, the title may be stated instead of his Christian name (or other forename) and surname or in addition to either or both of them.
7
In this section “director” includes a shadow director and the reference in subsection (3) to an “officer” shall be construed accordingly.
5
1
Section 686 of the M2Companies Act 1985 (documents to be delivered to registrar on registration of company not formed under companies legislation) is amended as follows.
2
In subsection (1) (particulars to be delivered to registrar), for paragraph (b) (particulars of directors and managers) substitute—
b
a list showing with respect to each director or manager of the company—
i
in the case of an individual, his name, address, occupation and date of birth,
ii
in the case of a corporation or Scottish firm, its corporate or firm name and registered or principal office,
3
After that subsection insert—
1A
For the purposes of subsection (1)(b)(i) a person’s “name” means his Christian name (or other forename) and surname, except that in the case of a peer, or an individual usually known by a title, the title may be stated instead of his Christian name (or other forename) and surname or in addition to either or both of them.
6
In section 691 of the Companies Act 1985 (documents to be delivered to registrar on registration of oversea company), for subsection (2) (particulars of directors and secretary) substitute—
2
The list referred to in subsection (1)(b)(i) shall contain the following particulars with respect to each director—
a
in the case of an individual—
i
his name,
ii
any former name,
iii
his usual residential address,
iv
his nationality,
v
his business occupation (if any),
vi
if he has no business occupation but holds other directorships, particulars of them, and
vii
his date of birth;
b
in the case of a corporation or Scottish firm, its corporate or firm name and registered or principal office.
3
The list referred to in subsection (1)(b)(i) shall contain the following particulars with respect to the secretary (or, where there are joint secretaries, with respect to each of them)—
a
in the case of an individual, his name, any former name and his usual residential address;
b
in the case of a corporation or Scottish firm, its corporate or firm name and registered or principal office.
Where all the partners in a firm are joint secretaries of the company, the name and principal office of the firm may be stated instead of the particulars required by paragraph (a).
4
In subsections (2)(a) and (3)(a) above—
a
“name” means a person’s Christian name (or other forename) and surname, except that in the case of a peer, or an individual usually known by a title, the title may be stated instead of his Christian name (or other forename) and surname, or in addition to either or both of them; and
b
the reference to a former name does not include—
i
in the case of a peer, or an individual normally known by a British title, the name by which he was known previous to the adoption of or succession to the title, or
ii
in the case of any person, a former name which was changed or disused before he attained the age of 18 years or which has been changed or disused for 20 years or more, or
iii
in the case of a married woman, the name by which she was known previous to the marriage.
7
1
Schedule 1 to the Companies Act 1985 (particulars of directors and secretaries to be sent to registrar) is amended as follows.
2
In paragraph 1(a) (particulars of individual directors)—
a
for “Christian name and surname” and “Christian name or surname” substitute “name”; and
b
for the words from “and, in the case” to the end substitute “and his date of birth”.
3
In paragraph 1(b) (particulars of other directors) after “corporation” insert “or Scottish firm” and after “corporate” insert “or firm”.
4
In paragraph 3(1)(a) (particulars of individual secretaries) for “Christian name and surname” (twice) substitute “name”.
5
For paragraph 4 substitute—
4
In paragraphs 1(a) and 3(1)(a) above—
a
“name” means a person’s Christian name (or other forename) and surname, except that in the case of a peer, or an individual usually known by a title, the title may be stated instead of his Christian name (or other forename) and surname or in addition to either or both of them; and
b
the reference to a former name does not include—
i
in the case of a peer, or an individual normally known by a British title, the name by which he was known previous to the adoption of or succession to the title, or
ii
in the case of any person, a former name which was changed or disused before he attained the age of 18 years or which has been changed or disused for 20 years or more, or
iii
in the case of a married woman, the name by which she was known previous to the marriage.
Transactions with directors not requiring authorisation
8
In section 321 of the M6Companies Act 1985 (exceptions from provisions requiring authorisation for substantial property transactions with directors, &c.), after subsection (3) insert—
4
Section 320(1) does not apply to a transaction on a recognised investment exchange which is effected by a director, or a person connected with him, through the agency of a person who in relation to the transaction acts as an independent broker.
For this purpose an “independent broker” means—
a
in relation to a transaction on behalf of a director, a person who independently of the director selects the person with whom the transaction is to be effected, and
b
in relation to a transaction on behalf of a person connected with a director, a person who independently of that person or the director selects the person with whom the transaction is to be effected;
and “recognised”, in relation to an investment exchange, means recognised under the Financial Services Act 1986.
Time limit for holding extraordinary general meeting convened on members’ requisition
9
In section 368 of the Companies Act 1985 (extraordinary general meeting on members’ requisition), after subsection (7) add—
8
The directors are deemed not to have duly convened a meeting if they convene a meeting for a date more than 28 days after the date of the notice convening the meeting.
Protection of company’s members against unfair prejudice
F111
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Requirements for registration by joint stock companies
12
In section 684(1) of the Companies Act 1985 (requirements for registration by joint stock companies: documents to be delivered to registrar), in paragraph (b) (list of members on specified day) for “(not more than 6 clear days before the day of registration)” substitute “(not more than 28 clear days before the day of registration)”.
Delivery of documents by oversea companies
F113
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Companies’ registered numbers
14
For section 705 of the Companies Act 1985 (Companies’ registered numbers) substitute—
705 Companies’ registered numbers.
1
The registrar shall allocate to every company a number, which shall be known as the company’s registered number.
2
Companies’ registered numbers shall be in such form, consisting of one or more sequences of figures or letters, as the registrar may from time to time determine.
3
The registrar may upon adopting a new form of registered number make such changes of existing registered numbers as appear to him necessary.
4
A change of a company’s registered number has effect from the date on which the company is notified by the registrar of the change; but for a period of three years beginning with the date on which that notification is sent by the registrar the requirement of section 351(1)(a) as to the use of the company’s registered number on business letters and order forms is satisfied by the use of either the old number or the new.
5
In this section “company” includes—
a
any oversea company which has complied with section 691 (delivery of statutes to registrar, &c.), other than a company which appears to the registrar not to have a place of business in Great Britain; and
b
any body to which any provision of this Act applies by virtue of section 718 (unregistered companies).
Exemptions from limit of 20 on members of partnership
15
1
Section 716 of the Companies Act M31985 (prohibition of formation of company, association or partnership with more than 20 members unless registered as company, &c.) is amended as follows.
2
In subsection (2) (exemptions), after paragraph (c) insert—
d
for any purpose prescribed by regulations (which may include a purpose mentioned above), of a partnership of a description so prescribed.
3
For subsections (3) and (4) substitute—
3
In subsection (2)(a) “solicitor”—
a
in relation to England and Wales, means solicitor of the Supreme Court, and
b
in relation to Scotland, means a person enrolled or deemed enrolled as a solicitor in pursuance of the Solicitors (Scotland) Act 1980.
4
In subsection (2)(c) “recognised stock exchange” means—
a
The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited, and
b
any other stock exchange for the time being recognised for the purposes of this section by the Secretary of State by order made by statutory instrument.
16
1
Section 717 of the Companies Act 1985 (limited partnerships: limit on number of members) is amended as follows.
2
In subsection (1) (exemptions from limit of 20 members under section 4(2) of Limited Partnerships Act 1907), after paragraph (c) insert—
d
to a partnership carrying on business of any description prescribed by regulations (which may include a business of any description mentioned above), of a partnership of a description so prescribed.
3
For subsections (2) and (3) substitute—
2
In subsection (1)(a) “solicitor”—
a
in relation to England and Wales, means solicitor of the Supreme Court, and
b
in relation to Scotland, means a person enrolled or deemed enrolled as a solicitor in pursuance of the Solicitors (Scotland) Act 1980.
3
In subsection (1)(c) “recognised stock exchange” means—
a
The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited, and
b
any other stock exchange for the time being recognised for the purposes of this section by the Secretary of State by order made by Statutory Instrument.
Meaning of “officer who is in default”
17
In section 730 of the Companies Act 1985 (punishment of offences), in subsection (5)(meaning of “officer who is in default”), after “company” (twice) insert “or other body”.
Offences committed by partnerships and other unincorporated bodies
18
In section 734 of the Companies Act 1985 (criminal proceedings against unincorporated bodies), at the end add—
5
Where such an offence committed by a partnership is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, a partner, he as well as the partnership is guilty of the offence and liable to be proceeded against and punished accordingly.
6
Where such an offence committed by an unincorporated body (other than a partnership) is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, any officer of the body or any member of its governing body, he as well as the body is guilty of the offence and liable to be proceeded against and punished accordingly.
Meaning of “office copy” in Scotland
19
In Part XXVI of the Companies Act 1985 (interpretation), after section 743 insert—
743A Meaning of “office copy” in Scotland.
References in this Act to an office copy of a court order shall be construed, as respects Scotland, as references to a certified copy interlocutor.
Index of defined expressions
I120
In Part XXVI of the Companies Act 1985 (interpretation), after section 744 insert—
744A Index of defined expressions.
The following Table shows provisions defining or otherwise explaining expressions for the purposes of this Act generally—
accounting reference date, accounting reference period
sections 224 and 742(1)
aquisition (in relation to a non-cash asset)
section 739(2)
agent
section 744
allotment (and related expressions)
section 738
annual accounts
sections 261(2), 262(1) and 742(1)
annual general meeting
section 366
annual return
section 363
articles
section 744
authorised minimum
section 118
balance sheet and balance sheet date
sections 261(2), 262(1) and 742(1)
bank holiday
section 744
banking company
section 744
body corporate
section 740
books and papers, books or papers
section 744
called-up share capital
section 737(1)
capital redemption reserve
section 170(1)
the Companies Acts
section 744
companies charges register
section 397
company
section 735(1)
the Consequential Provisions Act
section 744
corporation
section 740
the court (in relation to a company)
section 744
current assets
sections 262(1) and 742(1)
debenture
section 744
director
section 741(1)
document
section 744
elective resolution
section 379A
employees’ share scheme
section 743
equity share capital
section 744
existing company
section 735(1)
extraordinary general meeting
section 368
extraordinary resolution
section 378(1)
financial year (of a company)
sections 223 and 742(1)
fixed assets
sections 262(1) and 742(1)
floating charge (in Scotland)
section 462
the former Companies Acts
section 735(1)
the Gazette
section 744
hire-purchase agreement
section 744
holding company
section 736
the Insider Dealing Act
section 744
the Insolvency Act
section 735A(1)
insurance company
section 744
the Joint Stock Companies Acts
section 735(3)
limited company
section 1(2)
member (of a company)
section 22
memorandum (in relation to a company)
section 744
non-cash asset
section 739(1)
number (in relation to shares)
section 744
office copy (in relation to a court order in Scotland)
Section 743A
officer (in relation to a body corporate)
section 744
official seal (in relation to the registrar of companies)
section 744
oversea company
section 744
overseas branch register
section 362
paid up (and related expressions)
section 738
parent company and parent undertaking
sections 258 and 742(1)
place of business
section 744
prescribed
section 744
private company
section 1(3)
profit and loss account
sections 261(2), 262(1) and 742(1)
prospectus
section 744
public company
section 1(3)
realised profits or losses
sections 262(3) and 742(2)
registered number (of a company)
section 705(1)
registered office (of a company)
section 287
registrar and registrar of companies
section 744
resolution for reducing share capital
section 135(3)
shadow director
section 741(2) and (3)
share
section 744
share premium account
section 130(1)
share warrant
section 188
special notice (in relation to a resolution)
section379
special resolution
section 378(2)
subsidiary
section 736
subsidiary undertaking
sections 258 and 742(1)
transfer (in relation to a non-cash asset)
section 739(2)
uncalled share capital
section 737(2)
undistributable reserves
section 264(3)
unlimited company
section 1(2)
unregistered company
section 718
wholly-owned subsidiary
section 736(2)
Fraudulent trading by unregistered companies
21
In Schedule 22 to the Companies Act M51985 (provisions applying to unregistered companies), at the appropriate place insert—
Part XVI
Fraudulent trading by a company.