This chapter considers the mechanics of formation and registration as well as the various types of companies which may be formed. The focus is on registered companies, registered under the Companies Act 2006. The chapter considers the role of the registrar of companies and the public registry and the types of companies which can be registered. The key categories are companies limited by shares and limited by guarantee. Private and public companies limited by shares as well as corporate groups are all considered. The chapter also looks briefly at alternative vehicles for business, such as partnerships, limited partnerships and limited liability partnerships.
Chapter
1. Formation, classification, and registration of companies
Chapter
3. Incorporation
This chapter examines the various ways by which a company can be created and the different types of company that can be created. The process of creating a company is known as ‘incorporation’. There are four principal methods of incorporating a company: by royal charter, by Act of Parliament, by delegated authority, or by registration. The general rule is that the Companies Act 2006 (CA 2006) only applies to registered companies. However, in order to prevent unregistered companies being under-regulated and having an unfair advantage over registered companies, the CA 2006 provides that the Secretary of State may pass regulations that set out how the CA 2006 is applied to unregistered companies. There are a number of different company types that can suit a wide array of businesses. These include public and private companies. Companies can change their status by a process called re-registration.
Chapter
1. Formation, classification, and registration of companies
This chapter considers the mechanics of formation and registration and the various types of companies which may be formed. It looks at the application for incorporation and the issue of the certificate of incorporation. It considers, briefly, alternative vehicles for business, such as partnerships, limited partnerships, and limited liability partnerships. The chapter covers types of registered companies, companies limited by guarantee, private and public companies, re-registration of companies, and groups of companies. It considers the role of the registrar of companies, her objectives and powers, and the requirements for identity verification which will affect directors and people with significant control and any person delivering documents to the registrar.
Chapter
10. Loan Capital
The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter examines loan capital—borrowing by companies. It focuses on: the legal distinction between fixed and floating charges created by companies over their assets as security for loans, the registration of charges, applications for extension of the period for registration, the priority of charges on insolvency, and the avoidance of charges under the Insolvency Act 1986.
Chapter
3. Registration
This chapter discusses the process of registration for the incorporation of companies under the Companies Act 2006. It considers the distinction between private and public companies, the meaning of limited liability and the significant characteristics of the company created by the registration procedure at Companies House, such as a company’s separate corporate personality (which is highly artificial), its members, shareholding, directors, secretary, name, constitution and its registered office and domicile. To deter misuse of companies, the registration process involves disclosing much information about a company which is then available for public inspection. This process of public disclosure continues throughout a company’s existence.
