UK Companies Act 2006
Parts 17 to 18: Share capital (allotment, pre-emption, reduction, own shares) – UK Companies Act 2006

UK Companies Act 2006 549-559: Allotment of shares: directors' authority, return of allotment within one month, registration

What does 549-559 require?

The directors must not allot shares or grant rights to subscribe except under the authority of section 550 (private company with one class of shares, unless the articles prohibit) or section 551 (authorisation by the articles or by resolution stating the maximum amount and a date not more than five years ahead), and contravention is an offence (section 549). Shares must be registered in the register of members as soon as practicable and within two months (section 554), and within one month of an allotment the company must deliver a return of allotment with a statement of capital to the registrar (sections 555 to 557); the pre-emption rights in sections 561 to 577 apply to allotments of equity securities for cash unless disapplied.

Maintained by Gerard Blokdyk

Other controls in Parts 17 to 18: Share capital (allotment, pre-emption, reduction, own shares) – UK Companies Act 2006

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