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:
“Oh! a private buffoon is a light-hearted loon,
If you listen to popular rumour;
From morning to night he’s so joyous and bright,
And he bubbles with wit and good humour!”
—Sir William Schwenck Gilbert (1836–1911)
“The recent attempt to secure a charter from the State of North Dakota for a lottery company, the pending effort to obtain from the State of Louisiana a renewal of the charter of the Louisiana State Lottery, and the establishment of one or more lottery companies at Mexican towns near our border, have served the good purpose of calling public attention to an evil of vast proportions.”
—Benjamin Harrison (1833–1901)