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Private companies
may relax one of the formal requirements of the Companies Act 1985 by
passing an elective resolutions to extend in time the directors' authority
to allot shares from up to 5 years either to a stated date being more
than 5 years from the date of the passing of the resolution or indefinitely.
An elective resolution may be revoked at any time by an ordinary resolution
of the company.
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Our elective resolution
services include:
- preparation of
the minutes and resolutions which are needed to pass the required elective
resolutions;
- filing of the
resolution at Companies House; and
- a detailed guidance
note on the procedure and the effect of passing elective resolutions.
Next steps
The fee for our elective resolution service is £150 + VAT (£176.25).
For more information on extending the directors allotment authority please contact
our Corporate Legal Services team.
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