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New form annual return

15th Oct 2009
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The new annual return seems to be causing a lot of confusion with practitioners. The form now asks for details of the rights attaching to the shares to be inserted. The first point for these should always be the articles of association (and shareholders agreement if any).

The pertinant rights will be voting rights, dividend rights, rights on winding up, sale etc. For a large number of companies particularly smaller ones there will be no express provision made in the articles. In these cases my advice would be to put "full voting rights as set out in the articles of association".

I really don't see any reason to regurgitate Table A provisions particularly bearing in mind that each company is different and may be formed under different acts and therefore have a different Table A.

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By worsleym
16th Oct 2009 15:50

Companies Act 2006, Annual Returns, AD02s and all that........

The joy of having your software provider and Companies House blaming each other for the failure to get a new formation or a change of registered office accepted online has only been exceeded by the hilarity that Companies House caused with their Home Page message, "Since 5th October we have, over-all, had a successful launch to the new Companies Act......".

'By what measure?', we ask. BAA and Terminal 5?!

Having said that, the multiple issues and confusion that have arisen over the last 15 days have almost all be addressed thanks, in no small part, to our team of 25 professionals sharing our experiences and keeping all our clients fully compliant regardless of the obstacles. 30 years in practice does give one a frame of mind that expects trouble and makes more than adequate allowance for it even when those in charge in the corridors of power insist that all will be well. Don't be taken in.

Goodness knows how the small practitioner can hope to cope. But cope we all must and cope we certainly will.

Roll on the next statutory instrument and an even longer (but simpler!) annual return!

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By IanBurgess
18th Oct 2009 12:20

New style Annual Returns and Voting Rights

We have a guide online at http://www.bhis.co.uk/votingrights.htm which may be helpful.

Ian Burgess
BHIS Ltd.
www.bhis.co.uk

 

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