An Limited company has a Constitution instead of a Memorandum & Articles
A company private limited by shares (Ltd) now has a constitution. Under the Companies Act 2014, companies do not have stated objects if they are registered as a Limited Company, instead they have a simple one document constitution.
The Constitution
The constitution states the name of the company, that the company is a private company limited by shares, any additional regulations the company may wish to specify and takes the form set out in Schedule 1 to the Companies Act 2014.
We incorporate all companies using wide ranging object clauses with the principal objects clause designed to your trading requirements, allowing you to trade in the business you desire. We prepare your company Constitution which allows for wide ranging objects as it is required by the Companies Registration Office for all companies intending immediate commercial activity.
We will also allot the appropriate NACE code. Many banks and lending institutions require to see a NACE code in line with your principal activity of the company prior to authorising the activation of a new account or advancing a loan. It is useful for credit referencing and also ensures the uniqueness of your limited company, where the trade can be seen to be precise rather than general. A general trader clause is not permitted by the CRO.
There are a variety of reasons for a company to change the constitution, such as a members resolution to increase or decrease the share capital and to insert extra powers. All amendments to the Constitution require the preparation of members resolutions, minutes and forms for filing at the Companies Registration Office.
Dated the _______ day of __________________ 20 ___
Witness to the above Signatures: