Company Law, s.33 CA '06

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The introduction of the Companies Act 2006 has reformed the law regulating corporations which over the previous century has been subject to much criticism. This essay will show that in the main the change to s.33 of the act has not achieved any noticeable reform in relation to the company constitution, challenging the notion that it heralds a new era in the corporate constitution" for small closely held companies, and will show that Professor Rajak's contention:

The [s.14 Companies Act 1985] contract between the company and the shareholders gives rise to mutual rights and obligations, but these lie in favour of and against the shareholder in his capacity as a member of the company.1

still holds true. We will discover what s.33 does, it's effect on the parties, and particularly the issues which still remain with members rights. The wording of s.33(1) remains for the most part identical to that of its predecessor s.14 Companies Act 1985:

...the provisions of the company's constitution bind the company and its members to the same extent as if they were covenants on the part of the company and of each member to observe it.2

the only change being the