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Business Law: Memorandum and Articles
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Business Law: Memorandum and Articles
The Companies Act provides that, as regards each of the various types of company, these documents shall be in the form specified by regulations made by the Secretary of State "or as near to that form as circumstances admit". This, however is treated with considerable latitude and so long as the documents submitted are in the same basic form as that specified and contain what the Act prescribes, the widest variations of content are permitted. Thus, as we shall see, the practice has long been to produce memoranda much lengthier than the prescribed forms because of inflated objects clauses-a practice which conceivable may change as a result of the reforms of the ultra vires doctrine by the Act of 1989.
The present Regulations contain five Tables of which Table A, prescribing model articles for a company (whether public or private) limited by shares, is the most important and differs in its effect from the others. Such a company does not have to register articles (as opposed to the memorandum) and, if it does not, Table A (as in force if it does register articles, in so far as these do not
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