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Companies Act 1985
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Changes over time for: Part V
Alternative versions:
- 01/02/1991- Amendment
- 02/02/1991- Amendment
- 25/03/1991- Amendment
- 24/05/1991- Amendment
- 01/11/1991- Amendment
- 01/08/1995- Amendment
- 19/12/1995- Amendment
- 01/03/1997- Amendment
- 21/03/1997- Amendment
- 22/12/2000- Amendment
- 26/11/2001- Amendment
- 01/12/2001- Amendment
- 01/12/2003- Amendment
- 12/11/2004- Amendment
- 23/12/2005- Amendment
- 01/04/2007- Amendment
- 06/04/2007- Amendment
- 01/10/2007- Amendment
- 06/04/2008- Amendment
- 01/10/2008- Amendment
- 01/10/2009- Amendment
Changes to legislation:
Companies Act 1985, Part V is up to date with all changes known to be in force on or before 26 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 380(4ZB) inserted by 2006 c. 50 Sch. 8 para. 75(3) (This amendment not applied to legislation.gov.uk. Sch. 8 para. 75 repealed (1.10.2009) by S.I. 2009/1941, arts. 1, 2(2), Sch. 2)
- s. 396(1)(a)(ii) words repealed (cond.) by 2000 asp 5 Sch. 12 para. 46(2)(a)(3)(4) Sch. 13 Pt. 1 (The commencement of sch. 12 para. 46(2)(a) is conditional upon whether or not Companies Act, 1989 (c. 40), s. 92 is in force, see sch. 12 para. 46(3)(4). 1989 c. 40, Pt. 4 (ss. 92-107) was repealed without ever being in force (1.10.2009) by 2006 c. 46, s. 1180, Sch. 16; S.I. 2008/2860, arts. 3, 4, Sch. 1)
- Sch. 15D para. 17(n) inserted by 2024 c. 13 Sch. 30 para. 6
Part VU.K. Share Capital, its Increase, Maintenance and Reduction
Chapter IE+W+S General Provisions about Share Capital
117 Public company share capital requirements.E+W+S
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 117 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 paras. 26, 27(2), 29(2))
118 The authorised minimum.E+W+S
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2S. 118 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 paras. 26, 27(2), 29(2))
119 Provision for different amounts to be paid on shares.E+W+S
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F3Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
120 Reserve liability of limited company.E+W+S
F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F4Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
121 Alteration of share capital (limited companies).E+W+S
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
122 Notice to registrar of alteration.E+W+S
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F6Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
123 Notice to registrar of increased share capital.E+W+S
F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F7Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
124 Reserve capital of unlimited company.E+W+S
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
Chapter IIE+W+S Class Rights
125 Variation of class rights.E+W+S
(1)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F9S. 125(1)-(5)(7)(8) repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
F10S. 125(6) repealed (1.10.2007) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/2194, art. 8, Sch. 2 Pt. 1 (with art. 12)
126 Saving for court’s powers under other provisions.E+W+S
F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F11Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
127 Shareholders’ right to object to variation.E+W+S
F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F12Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
128Registration of particulars of special rights.E+W+S
F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F13Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
129 Registration of newly created class rights.E+W+S
F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F14Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
F15F15Chapter IIIE+W+S Share Premiums
Textual Amendments
F15Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
131. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
132. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
134. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F20F20Chapter IVE+W+S Reduction of Share Capital
Textual Amendments
F20Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
135. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
136. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
137. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
138. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
139. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
140. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
141. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F24F24Chapter VE+W+S Maintenance of Capital
Textual Amendments
F24Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
142. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
143. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
144. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
145. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
146. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
148. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
149. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
150. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F31F31Chapter VIE+W+S Financial Assistance by a Company for Acquisition of its Own Shares
Textual Amendments
F31Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
Provisions applying to both public and private companiesE+W+S
151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
152. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
154. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Private companiesE+W+S
155. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
156. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
157. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
158. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F40F40Chapter VIIE+W+S Redeemable Shares; Purchase by a Company of its Own Shares
Textual Amendments
F40Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
Redemption and purchase generallyE+W+S
159. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F41159A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
160. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
161. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162D. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162E. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162F. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
162G. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
163. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
164. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
165. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
166. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
167. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
168. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
169. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
169A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
170. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Redemption or purchase of own shares out of capital (private companies only)E+W+S
171. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
172. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
173. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
174. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
175. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
176. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SupplementaryE+W+S
178. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
179. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
180. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
181. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Chapter VIIIU.K. Miscellaneous Provisions about Shares and Debentures
Share and debenture certificates, transfers and warrantsE+W+S
182 Nature, transfer and numbering of shares.E+W+S
F77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F77Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))
183 Transfer and registration.E+W+S
F78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F78S. 183 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
184 Certification of transfers.E+W+S
F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F79S. 184 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
185 Duty of company as to issue of certificates.E+W+S
F80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F80S. 185 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
186 Certificate to be evidence of title.E+W+S
F81. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F81S. 186 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
187 Evidence of grant of probate or confirmation as executor.E+W+S
F82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F82S. 187 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
188 Issue and effect of share warrant to bearer.E+W+S
F83. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F83S. 188 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
189 Offences in connection with share warrants (Scotland).E+W+S
F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F84S. 189 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
DebenturesU.K.
190 Register of debenture holders.U.K.
F85. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F85S. 190 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
191 Right to inspect register.E+W+S
F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F86S. 191 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
192 Liability of trustees of debentures.E+W+S
F87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F87S. 192 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
193 Perpetual debentures.E+W+S
F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F88S. 193 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
194 Power to re-issue redeemed debentures.E+W+S
F89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F89S. 194 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
195 Contract to subscribe for debentures.E+W+S
F90. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F90S. 195 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
196 Payment of debts out of assets subject to floating charge (England and Wales).E+W+S
F91. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F91S. 196 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
197 Debentures to bearer (Scotland).E+W+S
F92. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F92S. 197 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 para. 22(2))
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