CTC - Corporate Finance Training Programmes Companies Act 2006 Shares and share capital

An explanation of course levels:

Introductory: for those new to the subject.
Intermediate: for delegates with some prior knowledge of the subject.
Advanced: for delegates with substantial knowledge of the subject.
Update: for delegates with or without prior knowledge of the subject.

Companies Act 2006

Companies Act 2006: shares and share capital

This is an updating course covering the significant changes made by the Companies Act 2006 in relation to shares, maintenance of capital and financial assistance.

CPD: 3 hours

Level: updating

OBJECTIVES

The course includes a consideration of the consequences of the abolition of authorised share capital, changes to the law on allotment of shares and pre-emption rights, maintenance of capital including the new procedure for reduction of capital by private companies and the removal of the financial assistance prohibition for private companies. Participants will understand the action which needs to be taken by existing companies as a result of changes under the Companies Act 2006 and the effect of the transitional provisions, as well as the position for companies incorporated under the Companies Act 2006.

COURSE OUTLINE

Part 1. Share capital

Abolition of authorised share capital.
Changes to the law on allotment of shares and pre-emption rights on issue of shares.
The impact of the transitional provisions for companies incorporated under earlier Companies Acts and the action which needs to be taken by them.
Alteration of share capital (including the power to redenominate shares) and variations of class rights.

Part 2. Maintenance of capital

A new procedure for reductions of capital by private companies.
Intra-group transfers and Aveling Barford.
Abolition of financial assistance for private companies.

The impact of the changes.
The remaining prohibition.