The Mentor Partnership

The London Stock Exchange (LSE) has launched a new “high growth segment” of the Main Market for EEA-incorporated issuers valued at £300-600 million with revenue growth of at least 20% over the previous three financial years.

The Companies Act regime for the registration of company charges was reformed with effect from 6 April 2013 by the Companies Act 2006 (Amendment of Part 25) Regulations 2013 (SI 2013/600). The changes also apply to LLPs by virtue of SI 2013/618.

The procedures for issuing new shares under the Companies Act 2006 (‘2006 Act’) are potentially much simpler than under the Companies Act 1985 (‘1985 Act’). Companies incorporated under the 2006 Act (i.e. on or after 1st October 2009) can take full advantage of the new regime immediately. However, companies incorporated before 1st October 2009 must pass through a number of hoops before they can do so.

This article examines the effect of the name, status and objects clauses in the memorandum of association of a company incorporated before 1 October 2009, and demonstrates what changes need to be made to the memorandum if any of the clauses are revoked, deleted or no longer have any legal effect.

This article examines the effect of changes introduced by the Companies Act 2006 on the Memorandum of Association of a company incorporated before 1 October 2009, and the way in which those changes must be presented in the company's Memorandum and Articles of Association.