Model Articles for Private Companies Limited by Shares
Standardised sets of rules and regulations that govern the internal management and operation of a company. These articles are intended to set out the rights and duties of the company's directors, shareholders, and other key parties, and they help ensure that the company complies with relevant legal and regulatory requirements.
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Model Articles for Private Companies Limited by Shares: Structure and Governance Rules
The Model Articles for Private Companies Limited by Shares serve as a default set of rules governing the internal management and operation of a company. These articles ensure your business structure complies with UK company law and outline how the company is to be run on a day-to-day basis.
Directors' Roles and Powers
Define the authority, responsibilities, and procedures for appointing and removing directors, and how they make decisions.
Shareholder Rights
Set clear rules on issuing, transferring, and managing shares, along with shareholders' decision-making rights.
Dividends and Distributions
Outline procedures for declaring and paying dividends, including non-cash and unclaimed distributions.
General Meetings
Provide guidance on how shareholder meetings are organised, including quorum requirements, voting procedures, and proxy arrangements.
Administrative Processes
Include rules on communication, record-keeping, and the use of company seals.
Liability and Indemnity
Clarify the limited liability of members and provisions for directors’ indemnity and insurance.
When you create this document using Bind, you can eSign it and send it for signature instantly. This helps formalise your company’s foundational rules and gives you a compliant governance structure right from the start.
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