Companies Act 1985

Contents

6,959 provisions, too many to show on one page. Open a part or section to read it with its history and connections, or search inside the text.

1. Part I · Formation and Registration of Companies; Juridical Status and Membership
   1. Chapter I Company Formation
   2. Chapter II Company Names
   3. Chapter III A Company’s Capacity; Formalities of Carrying on Business
2. Part II · Re-registration as a means of altering a company’s status
   1. Limited company becoming unlimited
   2. Private company becoming public
   3. Public company becoming private
   4. Unlimited company becoming limited
3. Part III · Capital Issues
   1. Chapter I Issues by Companies Registered, or to be Registered, in Great Britain
   2. Chapter II Issues by Companies Incorporated, or to be Incorporated, Outside Great Britain
4. Part IV · Allotment of Shares and Debentures
   1. Amount to be paid for shares; the means of payment
   2. Commissions and discounts
   3. General provisions as to allotment
   4. Other matters arising out of allotment &c.
   5. Pre-emption rights
   6. Valuation provisions
5. Part V · Share Capital, its Increase, Maintenance and Reduction
   1. Chapter I General Provisions about Share Capital
   2. Chapter II Class Rights
   3. Chapter III Share Premiums
   4. Chapter IV Reduction of Share Capital
   5. Chapter V Maintenance of Capital
   6. Chapter VI Financial Assistance by a Company for Acquisition of its Own Shares
   7. Chapter VII Redeemable Shares; Purchase by a Company of its Own Shares
   8. Chapter VIII Miscellaneous Provisions about Shares and Debentures
6. Part VI · Disclosure of Interests in Shares
   1. Supplementary
   2. Individual and group acquisitions
   3. Registration and investigation of share acquisitions and disposals
7. Part VII · Accounts and Audit
   1. Chapter I Provisions Applying to Companies Generally
   2. Chapter II Exemptions, Exceptions and Special Provisions
   3. Chapter III Supplementary Provisions
8. Part VIII · Distribution of Profits and Assets
   1. Supplementary
   2. Limits of company’s power of distribution
   3. Relevant accounts
9. Part IX · A Company’s Management; Directors and Secretaries; their Qualifications, Duties and Responsibilities
   1. Disqualification
   2. Officers and registered office
   3. Other provisions about directors and officers
   4. Provisions governing appointment of directors
   5. Removal of directors
10. Part X · Enforcement of Fair Dealing by Directors
    1. Supplementary
    2. Restrictions on a company’s power to make loans, etc., to directors and persons connected with them
    3. Restrictions on directors taking financial advantage
    4. Share dealings by directors and their families
11. Part XA · Control of political donations
    1. 347A Introductory provisions.
    2. 347B Exemptions.
    3. 347C Prohibition on donations and political expenditure by companies.
    4. 347D Special rules for subsidiaries.
    5. 347E Special rule for parent company of non-GB subsidiary undertaking.
    6. 347F Remedies for breach of prohibitions on company donations etc.
    7. 347G Remedy for unauthorised donation or expenditure by non-GB subsidiary.
    8. 347H Exemption of directors from liability in respect of unauthorised donation or expenditure.
    9. 347I Enforcement of directors’ liabilities by shareholder action.
    10. 347J Costs of shareholder action.
    11. 347K Information for purposes of shareholder action.
12. Part XI · Company administration and procedure
    1. Chapter I Company Identification
    2. Chapter II Register of Members
    3. Chapter III Annual Return
    4. Chapter IV Meetings and Resolutions
13. Part XII · Registration of Charges
    1. Chapter I Registration of Charges (England and Wales)
    2. Chapter II Registration of Charges (Scotland)
14. Part XIII · Arrangements and Reconstructions
    1. 425 Power of company to compromise with creditors and members.
    2. 426 Information as to compromise to be circulated.
    3. 427 Provisions for facilitating company reconstruction or amalgamation.
    4. 427A Application of ss. 425–427 to mergers and divisions of public companies.
15. Part XIIIA · Takeover Offers
    1. 428 Takeover offers.
    2. 429 Right of offeror to buy out minority shareholders.
    3. 430 Effect of notice under s. 429.
    4. 430A Right of minority shareholder to be bought out by offeror.
    5. 430B Effect of requirement under s. 430A.
    6. 430C Applications to the court.
    7. 430D Joint offers.
    8. 430E Associates.
    9. 430F Convertible securities.
16. Part XIV · Investigation of Companies and Their Affairs; Requisition of Documents
    1. Appointment and functions of inspectors
    2. Other powers of investigation available to the Secretary of State
    3. Requisition and seizure of books and papers
17. Part XV · Orders Imposing Restrictions on Shares (Section 445)
    1. 454 Consequence of order imposing restrictions.
    2. 455 Punishment for attempted evasion of restrictions.
    3. 456 Relaxation and removal of restrictions.
    4. 457 Further provisions on sale by court order of restricted shares.
18. Part XVI · Fraudulent Trading by a Company
    1. 458 Punishment for fraudulent trading.
19. Part XVII · Protection of Company’s Members against Unfair Prejudice
    1. 459 Order on application of company member.
    2. 460 Order on application of Secretary of State.
    3. 461 Provisions as to petitions and orders under this Part.
20. Part XVIII · Floating Charges and Receivers (Scotland)
    1. Chapter I Floating Charges
    2. Chapter II Receivers
    3. Chapter III General
21. Part XIX · Receivers and Managers (England and Wales)
    1. 488–500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22. Part XX · Winding Up of Companies Registered Under this Act or the Former Companies Acts
    1. Chapter VI Matters Arising Subsequent to Winding Up
    2. Chapter VII Miscellaneous Provisions About Winding Up
    3. Chapters I–V . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23. Part XXI
    1. 665–674 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24. Part XXII · Bodies Corporate Subject, or Becoming Subject, to this Act (Otherwise than by Original Formation Under Part I)
    1. Chapter I Companies Formed or Registered under Former Companies Acts
    2. Chapter II Companies not Formed under Companies Legislation, but Authorised to Register
25. Part XXIII · Oversea Companies
    1. Chapter I Registration, Etc.
    2. Chapter II Delivery of Accounts and Reports
    3. Chapter III Registration of Charges
    4. Chapter IV Winding up etc.
26. Part XXIV · The Registrar of Companies, His Functions and Offices
    1. 704 Registration offices.
    2. 705 Companies’ registered numbers.
    3. 705A Registration of branches of oversea companies.
    4. 706 Delivery to the registrar of documents in legible form.
    5. 707 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    6. 707A The keeping of company records by the registrar.
    7. 707B Delivery to the registrar using electronic communications
    8. 708 Fees payable to registrar.
    9. 709 Inspection, &c. of records kept by the registrar.
    10. 710 Certificate of incorporation.
    11. 710A Provision and authentication by registrar of documents in non-legible form.
    12. 710B Documents relating to Welsh companies.
    13. 711 Public notice by registrar of receipt and issue of certain documents.
    14. 711A Exclusion of deemed notice.
    15. 712 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    16. 713 Enforcement of company’s duty to make returns.
    17. 714 Registrar’s index of company and corporate names.
    18. 715 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    19. 715A Interpretation.
27. Part XXV · Miscellaneous and Supplementary Provisions
    1. 716 Prohibition of partnerships with more than 20 members.
    2. 717 Limited partnerships: limit on number of members.
    3. 718 Unregistered companies.
    4. 719 Power of company to provide for employees on cessation or transfer of business.
    5. 720 Certain companies to publish periodical statement.
    6. 721 Production and inspection of books where offence suspected.
    7. 722 Form of company registers, etc.
    8. 723 Use of computers for company records.
    9. 723A Obligations of company as to inspection of registers, &c.
    10. 723B Confidentiality orders
    11. 723C Effect of confidentiality orders
    12. 723D Construction of sections 723B and 723C
    13. 723E Sections 723B and 723C: offences
    14. 723F Regulations under sections 723B to 723E
    15. 724 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    16. 725 Service of documents.
    17. 726 Costs and expenses in actions by certain limited companies.
    18. 727 Power of court to grant relief in certain cases.
    19. 728 Enforcement of High Court orders.
    20. 729 Annual report by Secretary of State.
    21. 730 Punishment of offences.
    22. 730A Meaning of “officer in default”
    23. 731 Summary proceedings.
    24. 732 Prosecution by public authorities.
    25. 733 Offences by bodies corporate.
    26. 734 Criminal proceedings against unincorporated bodies.
28. Part XXVI · Interpretation
    1. 735 “Company”, etc.
    2. 735A Relationship of this Act to Insolvency Act.
    3. 735B Relationship of this Act to Parts IV and V of the Financial Services Act 1986.
    4. 736 “Subsidiary”, “holding company” and “wholly-owned subsidiary”.
    5. 736A Provisions supplementing s. 736.
    6. 736B Power to amend ss. 736 and 736A.
    7. 737 “Called-up share capital”.
    8. 738 “Allotment” and “paid up”.
    9. 739 “Non-cash asset”.
    10. 740 “Body corporate” and “corporation”.
    11. 741 “Director” and “shadow director”.
    12. 742 Expressions used in connection with accounts.
    13. 742A Meaning of “offer to the public”
    14. 742B Meaning of “banking company”
    15. 742C Meaning of “insurance company” and “authorised insurance company”
    16. 743 “Employees’ share scheme”.
    17. 743A Meaning of “office copy” in Scotland.
    18. 744 Expressions used generally in this Act.
    19. 744A Index of defined expressions.
29. Part XXVII · Final Provisions
    1. 745 Northern Ireland.
    2. 745A “Bank of England”
    3. 746 Commencement.
    4. 747 Citation.
30. Schedule 1 · Particulars of Directors etc. to be Contained in Statement Under Section 10
    1. Directors
    2. Secretaries
    3. Interpretation
31. Schedule 2 · Interpretation of References to “Beneficial Interest”
    1. Part I References in Sections 23, 145, 146 and 148
    2. Part II References in Schedule 5
32. Schedule 3 · Mandatory Contents of Prospectus
    1. Part I Matters to be Stated
    2. Part II Auditors’ and accountants’ reports to be set out in prospectus
33. Schedule 4
    1. Part I General Rules and Formats
    2. Part II Accounting Principles and Rules
    3. Part III Notes to the Accounts
    4. Part IV Special Provisions Where Company is a Parent Company or Subsidiary Undertaking
    5. Part V Special Provisions where the Company is an Investment Company
    6. Part VI
    7. Part VII Interpretation of Schedule
34. Schedule 4A
    1. General rules
    2. Elimination of group transactions
    3. Acquisition and merger accounting
    4. Minority interests
    5. Interests in subsidiary undertakings excluded from consolidation
    6. Joint ventures
    7. Associated undertakings
35. Schedule 5
    1. Part I Companies not Required to Prepare Group Accounts
    2. Part II Companies Required to Prepare Group Accounts
36. Schedule 6
    1. Part I Chairman’s and Directors’ Emoluments, Pensions and Compensation for Loss of Office
    2. Part II Loans, Quasi-loans and Other Dealings in Favour of Directors
    3. Part III Other Transactions, Arrangements and Agreements
37. Schedule 7
    1. Part 7 Disclosure required by certain publicly-traded companies
    2. Part I Matters of a General Nature
    3. Part II Disclosure Required by Company Acquiring its Own Shares, etc.
    4. Part III Disclosure Concerning Employment, etc, of Disabled Persons
    5. Part IV
    6. Part V Employee Involvement
    7. Part VI
38. Schedule 7A
    1. Part 1 Introductory
    2. Part 2 Information not subject to audit
    3. Part 3 Information subject to audit
    4. Part 4 Interpretation and supplementary
39. Schedule 7B
    1. Part 1 Specified persons
    2. Part 2 Specified descriptions of disclosures
    3. Part 3 Overseas regulatory bodies
40. Schedule 7ZA
    1. Review objective
    2. Other general requirements
    3. Details of particular matters
    4. Reference to and explanation of company's accounts
    5. Compliance with standards
    6. Application of Schedule to group operating and financial review
41. Schedule 8
    1. Part I Exemptions with respect to preparation of annual accounts of small companies
    2. Part I General rules and formats
    3. Part II Exemptions with respect to directors’ report
    4. Part II Accounting principles and rules
    5. Part III Exemptions with respect to delivery of accounts
    6. Part III Notes to the accounts
    7. Part IV Interpretation of schedule
    8. Section a Individual accounts
    9. Section b Group accounts
    10. Section C Supplementary provisions
42. Schedule 8A
    1. Part I Balance sheet formats
    2. Part II Notes to the accounts
    3. Balance Sheet Formats
    4. Balance Sheet Formats
    5. Notes on the balance sheet formats
43. Schedule 9
    1. (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    2. Part I Form and Content of Accounts
    3. Part I Individual accounts
    4. Part II Accounts of Banking or Insurance Group
    5. Part II Consolidated accounts
    6. Part III
    7. Part III Additional disclosure: related undertakings
    8. Part IV Additional Disclosure: Emoluments and Other Benefits of Directors and Others
    9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
44. Schedule 9A
    1. Part I Individual Accounts
    2. Part II Consolidated Accounts
45. Schedule 10
    1. Recent issues
    2. Turnover and profitability
    3. Labour force and wages paid
46. Schedule 10A
    1. Introduction
    2. Voting rights in an undertaking
    3. Right to appoint or remove a majority of the directors
    4. Right to exercise dominant influence
    5. Rights exercisable only in certain circumstances or temporarily incapable of exercise
    6. Rights held by one person on behalf of another
    7. Rights attached to shares held by way of security
    8. Rights attributed to parent undertaking
    9. Disregard of certain rights
    10. Supplementary
47. Schedule 11
    1. (1) Paragraphs 2 to 6 below apply where a company has...
    2. Modifications where accounts prepared in accordance with special provisions for banking companies
    3. Modifications where accounts prepared in accordance with special provisions for insurance companies
48. Schedule 12 · . . .
49. Schedule 13 · Provisions Supplementing and Interpreting Sections 324 to 328
    1. Part I
    2. Part II
    3. Part III
    4. Part IV
50. Schedule 14
    1. Part I Countries and Territories in Which Overseas Branch Register May be Kept
    2. Part II General Provisions With Respect to Overseas Branch Registers
    3. Part III Provisions for Branch Registers of Oversea Companies to be Kept in Great Britain
51. Schedule 15 · . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
52. Schedule 15A
    1. Part I Exceptions
    2. Part II Adaptation of Procedural Requirements
53. Schedule 15B
    1. (1) Meeting of transferee company
    2. (2) Draft terms of merger
    3. (3) Documents and information to be made available
    4. (4) Directors’ report
    5. (5) Expert’s report
    6. (6) Inspection of documents
    7. (7) Transferor company holding its own shares
    8. (8) Securities other than shares to which special rights are attached
    9. (9) Date and consequences of the compromise or arrangement
    10. (10) Exceptions
    11. (11) (1) The following sub-paragraphs apply where the scheme is a...
    12. Transferee company or companies holding shares in the transferor company
54. Schedule 15C · Specified persons
    1. (1) The Secretary of State.
    2. (2) The Department of Enterprise, Trade and Investment for Northern Ireland....
    3. (3) The Treasury.
    4. (3A) The Commissioners for Her Majesty’s Revenue and Customs.
    5. (4) The Lord Advocate.
    6. (5) The Director of Public Prosecutions.
    7. (6) The Director of Public Prosecutions for Northern Ireland.
    8. (6A) The Director of the Serious Fraud Office.
    9. (7) The Financial Conduct Authority.
    10. (7A) The Prudential Regulation Authority.
    11. (7B) The Bank of England.
    12. (7C) The registrar of companies.
    13. (7D) The Gangmasters and Labour Abuse Authority.
    14. (8) A constable.
    15. (9) A procurator fiscal.
    16. (10) The Scottish Ministers.
55. Schedule 15D · Disclosures
    1. (1) A disclosure for the purpose of enabling or assisting a...
    2. (2) A disclosure for the purpose of enabling or assisting an...
    3. (3) A disclosure for the purpose of enabling or assisting a...
    4. (4) A disclosure for the purpose of enabling or assisting a...
    5. (5) A disclosure for the purpose of enabling or assisting a...
    6. (6) A disclosure for the purpose of enabling or assisting a...
    7. (7) A disclosure for the purpose of enabling or assisting a...
    8. (8) A disclosure for the purpose of enabling or assisting a...
    9. (9) A disclosure for the purpose of enabling or assisting the...
    10. (10) A disclosure for the purpose of enabling or assisting the...
    11. (11) A disclosure for the purpose of enabling or assisting the...
    12. (12) A disclosure for the purpose of enabling or assisting a...
    13. (13) A disclosure for the purpose of enabling or assisting the...
    14. (13A) A disclosure for the purpose of enabling or assisting the...
    15. (14) A disclosure for the purpose of enabling or assisting the...
    16. (15) A disclosure for the purpose of enabling or assisting the...
    17. (16) A disclosure for the purpose of enabling or assisting organs...
    18. (17) A disclosure for the purpose of enabling or assisting the...
    19. (18) . . . . . . . . . ....
    20. (19) A disclosure with a view to the institution of, or...
    21. (20) A disclosure for the purpose of enabling or assisting an...
    22. (21) A disclosure for the purpose of enabling or assisting the...
    23. (22) A disclosure for the purpose of enabling or assisting the...
    24. (23) A disclosure for the purpose of enabling or assisting the...
    25. (24) A disclosure by the Gambling Commission to the National Audit...
    26. (25) A disclosure for the purposes of enabling or assisting a...
    27. (26) A disclosure for the purpose of enabling or assisting an...
    28. (27) A disclosure for the purpose of enabling or assisting a...
    29. (27A) A disclosure for the purpose of enabling or assisting the...
    30. (28) A disclosure for the purpose of enabling or assisting the...
    31. (29) . . . . . . . . . ....
    32. (30) A disclosure for the purpose of enabling or assisting a...
    33. (31) (1) A disclosure for the purpose of enabling or assisting...
    34. (32) A disclosure for the purpose of enabling or assisting a...
    35. (33) A disclosure with a view to the institution of, or...
    36. (34) A disclosure for the purpose of enabling or assisting a...
    37. (35) A disclosure for the purpose of enabling or assisting a...
    38. (36) A disclosure for the purpose of enabling or assisting an...
    39. (37) . . . . . . . . . ....
    40. (38) A disclosure for the purpose of enabling or assisting a...
    41. (39) (1) A disclosure for the purpose of enabling or assisting...
    42. (40) A disclosure for the purpose of enabling or assisting the...
    43. (41) A disclosure with a view to the institution of, or...
    44. (42) A disclosure with a view to the institution of, or...
    45. (43) A disclosure with a view to the institution of, or...
    46. (44) A disclosure for the purposes of proceedings before the Financial...
    47. (44A) A disclosure for the purposes of proceedings before the Pensions...
    48. (45) A disclosure for the purpose of enabling or assisting a...
    49. (46) (1) A disclosure with a view to the institution of,...
    50. (47) (1) A disclosure with a view to the institution of,...
    51. (48) A disclosure for the purpose of the provision of a...
    52. (49) A disclosure in pursuance of any EU obligation.
    53. (50) Disclosures
56. Schedule 16 · . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
57. Schedule 20
    1. Part I . . .
    2. Part II Crown Disclaimer under section 656
58. Schedule 21
    1. Interpretation
    2. Vesting of property
    3. Existing liabilities
    4. Pending actions at law
    5. The company’s constitution
    6. Capital structure
    7. Supplementary
59. Schedule 21A
    1. (1) Duty to register
    2. (2) Particulars required
    3. (3) The particulars referred to in paragraph 1(1)(b) are—
    4. (4) The particulars referred to in paragraph 1(1)(c) are—
    5. (4A) Where a confidentiality order made under section 723B is in...
    6. (5) Documents required
    7. (6) (1) The second documents referred to in paragraph 1(2) are—...
    8. (7) Alterations
    9. (8) (1) Sub-paragraph (2) below applies where— (a) a company’s return...
    10. (9) (1) If an individual in respect of whom a confidentiality...
60. Schedule 21B
    1. (1) (1) This paragraph applies where a company which becomes a...
    2. (2) (1) This paragraph applies where a company which becomes a...
61. Schedule 21C
    1. Part I Institutions required to prepare accounts under parent law
    2. Part II Institutions not required to prepare accounts under parent law
62. Schedule 21D
    1. Part I Companies required to make disclosure under parent law
    2. Part II Companies not required to make disclosure under parent law
63. Schedule 22
64. Schedule 23
65. Schedule 24
66. Schedule 25
    1. (38) Relief from section 56 in respect of group reconstructions.
67. Schedules 17–19 · . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .