Private Companies
Schedule 1 contains the model articles for companies limited by shares. Schedule 2 contains model articles for companies limited by guarantee (which are often non-profit).
The model articles for private companies were drafted primarily for small companies. This means that they tend to be more accessible to the directors and members but they are often not appropriate for companies with multiple shareholders and/or directors that want more detailed constitutional rules.
There are two other sets of model articles of association prescribed by statute for private companies in England. The Right to Manage (Model Articles) England Regulations 2009 for Right to Manage companies and The Commonhold (Amendment) Regulations 2009 for Commonhold Associations.
Read more about this topic: The Companies (Model Articles) Regulations 2008
Famous quotes containing the words private and/or companies:
“We are sure that, though we know not how, necessity does comport with liberty, the individual with the world, my polarity with the spirit of the times. The riddle of the age has for each a private solution.”
—Ralph Waldo Emerson (1803–1882)
“Socialite women meet socialite men and mate and breed socialite children so that we can fund small opera companies and ballet troupes because there is no government subsidy.”
—Sugar Rautbord, U.S. socialite fund-raiser and self-described “trash” novelist. As quoted in The Great Divide, book 2, section 7, by Studs Terkel (1988)