Companies Act 1985

Part V U.K. Share Capital, its Increase, Maintenance and Reduction

Chapter I E+W+S General Provisions about Share Capital

117 Public company share capital requirements. E+W+S

F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 117 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 paras. 26, 27(2), 29(2))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

F2 S. 118 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12, Sch. 4 paras. 26, 27(2), 29(2))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

F3 Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802,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

F4 Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802,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

F5 Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802,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

F6 Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802,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

F7 Ss. 119-124 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802,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

F8 Ss. 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 II E+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

F9 S. 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.))

F10 S. 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

F11 Ss. 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

F12 Ss. 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.))

128 Registration of particulars of special rights. E+W+S

F13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13 Ss. 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

F14 Ss. 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.))

F15 F15 Chapter III E+W+S Share Premiums

Textual Amendments

F15 Ss. 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F20 F20 Chapter IV E+W+S Reduction of Share Capital

Textual Amendments

F20 Ss. 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F24 F24 Chapter V E+W+S Maintenance of Capital

Textual Amendments

F24 Ss. 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F31 F31 Chapter VI E+W+S Financial Assistance by a Company for Acquisition of its Own Shares

Textual Amendments

F31 Ss. 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 companies E+W+S

151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

152. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

154. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Private companies E+W+S

155. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

156. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

157. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

158. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F40 F40 Chapter VII E+W+S Redeemable Shares; Purchase by a Company of its Own Shares

Textual Amendments

F40 Ss. 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 generally E+W+S

159. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F41 159A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Supplementary E+W+S

178. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

179. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

180. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

181. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter VIII U.K. Miscellaneous Provisions about Shares and Debentures

Share and debenture certificates, transfers and warrants E+W+S

182 Nature, transfer and numbering of shares. E+W+S

F77 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F77 Ss. 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

F78 S. 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

F79 S. 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

F80 S. 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

F81 S. 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

F82 S. 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

F83 S. 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

F84 S. 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))

Debentures U.K.

190 Register of debenture holders. U.K.

F85 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F85 S. 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

F86 S. 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

F87 S. 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

F88 S. 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

F89 S. 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

F90 S. 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

F91 S. 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

F92 S. 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))