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:
“An affair wants to spill, to share its glory with the world. No act is so private it does not seek applause.”
—John Updike (b. 1932)
“In the U.S. for instance, the value of a homemaker’s productive work has been imputed mostly when she was maimed or killed and insurance companies and/or the courts had to calculate the amount to pay her family in damages. Even at that, the rates were mostly pink collar and the big number was attributed to the husband’s pain and suffering.”
—Gloria Steinem (20th century)