Power of directors to allot shares etc: private company with only one class of shares (s. 550)
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Memorandwm Esboniadol
44. For the purposes of section 550 of the Companies Act 2006 provisions of the articles of an existing or transitional company—
(a)authorising the directors to allot shares in accordance with section 80 of the 1985 Act or Article 90 of the 1986 Order, or
(b)added following an elective resolution under section 80A of the 1985 Act or Article 90A of the 1986 Order and authorising the directors to allot shares,
are not to be treated as provisions prohibiting the directors from exercising the powers conferred by section 550 in cases to which the authority does not extend.