Small Business, Enterprise and Employment Act 2015 Explanatory Notes

Small Business, Enterprise and Employment Act 2015

2015 CHAPTER 26

Commentary on Sections

Part 7: COMPANIES: TRANSPARENCY

Abolition of share warrants to bearer

Section 85: Amendment of company’s articles to reflect abolition of share warrants

596. In order to reflect the fact that once section 84 is in force it will be unlawful for a company to issue share warrants, this section provides that a company whose articles of association authorise the issue of share warrants may amend its articles without recourse to specific procedures set out in CA 2006, so without the need for a special resolution or for compliance with any relevant provision for entrenchment contained in the articles.