Authorised share capital

A former requirement of the now repealed section 2(5)(a) of the Companies Act 1985 under which, before 1 October 2009, a company with share capital was required to state in its memorandum ( www.practicallaw.com/A36435) the amount of capital that the company was authorised by its shareholders to issue together with the number and nominal value of the shares into which it was divided.

From 1 October 2009, the Companies Act 2006 abolished the requirement for a company to have an authorised share capital and shareholders wishing to restrict the number of shares that can be issued by a company need to address this issue in the company's articles ( www.practicallaw.com/3-107-6436) .

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