(1)Certain companies are exempt from requirements of this Act relating to the use of “limited" as part of the company name.
(2)A private company limited by guarantee is exempt from those requirements, and so too is a company which on 25th February 1982 was a private company limited by shares with a name which, by virtue of a licence under section 19 of the M1Companies Act 1948, did not include “limited"; but in either case the company must, to have the exemption, comply with the requirements of the following subsection.
(3)Those requirements are that—
(a)the objects of the company are (or, in the case of a company about to be registered, are to be) the promotion of commerce, art, science, education, religion, charity or any profession, and anything incidental or conducive to any of those objects; and
(b)the company’s memorandum or articles—
(i)require its profits (if any) or other income to be applied in promoting its objects,
(ii)prohibit the payment of dividends to its members, and
(iii)require all the assets which would otherwise be available to its members generally to be transferred on its winding up either to another body with objects similar to its own or to another body the objects of which are the promotion of charity and anything incidental or conducive thereto (whether or not the body is a member of the company).
(4)A statutory declaration that a company complies with the requirements of subsection (3) may be delivered to the registrar of companies, who may accept the declaration as sufficient evidence of the matters stated in it; and the registrar may refuse to register a company by a name which does not include the word “limited" unless such a declaration has been delivered to him.
(5)The statutory declaration must be in the prescribed form and be made—
(a)in the case of a company to be formed, by a solicitor engaged in its formation or by a person named as director or secretary in the statement delivered under section 10(2);
(b)in the case of a company to be registered in pursuance of section 680, by two or more directors or other principal officers of the company; and
(c)in the case of a company proposing to change its name so that it ceases to have the word “limited" as part of its name, by a director or secretary of the company.
(6)References in this section to the word “limited” include (in an appropriate case) its Welsh equivalent (“cyfyngedig"), and the appropriate alternative (“ltd." or “cyf.", as the case may be).
(7)A company which is exempt from requirements relating to the use of “limited" and does not include that word as part of its name, is also exempt from the requirements of this Act relating to the publication of its name and the sending of lists of members to the registrar of companies.
Modifications etc. (not altering text)
C2S. 30(7) restricted (E.W.) (1.1.1993) by Charities Act 1960 (c. 58), s. 30BB (as inserted (1.1.1993) by Charities Act 1992 (c. 41), s.42; S.I. 1992/1900, art. 4, Sch.3).
S. 30(7) excluded (E.W.) (1.8.1993) by 1993 c. 10, ss.67, 99(1)
Marginal Citations