Close Company definition

Close Company definition

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Stupid question, I expect, but is it possible for a company that does not have a share capital to be a Close company?

Thanks

With kind regards

Clint Westwood

Replies (4)

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By Ruddles
17th Feb 2017 08:35

Not a stupid question, but an exceedingly lazy one

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By Harrison88
17th Feb 2017 08:56

See CTA 2010, s.439 for the definition.

http://www.legislation.gov.uk/ukpga/2010/4/section/439

You'll need the definition of participator. Which can be found at s454

http://www.legislation.gov.uk/ukpga/2010/4/section/454

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Replying to Harrison88:
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By nogammonsinanundoubledgame
17th Feb 2017 10:06

Thanks. Yes I had looked at s.454 but remained unclear. Presumably it is all down to the memo and arts.

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Replying to nogammonsinanundoubledgame:
By Ruddles
17th Feb 2017 11:07

Not necessarily! Look at all of the tests of control.

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