Companies Act Compliant
The Companies Act 2006 revised and consolidated UK company law, following the recommendations of the Company Law Review, which reported on the modernisation of UK company law in 2001.
The key areas covered by the act are:
- Setting out in statute directors’ duties
- Allowing companies to indemnify directors
- Confidentiality of directors’ home addresses
- Shareholder rights including setting out in statute the right to bring a claim on behalf of the company in certain circumstances
- Raising share capital and takeovers
- Auditor liability and offences
- Company formation and administration including the responsibilities of Companies House and greater use of electronic reporting and filing
- Political donations
- Corporate governance rules implementing EU directives
- New rules to allow company law to be updated more regularly.
Under the Companies Act 2006 a set of model articles was produced with the intention of making it easier for organisations by allowing them to just adopt the model articles when they became a company rather than draft their own.
All companies formed from October 2009 onwards could adopt the model articles as standard or they could choose to adopt their own amended articles based on the new act.
Clearly with the changes brought in by the Act, all existing organisations that are registered as a Company need to update their articles in line with the model articles.
This can be an arduous process and we recognised that the model articles were not drafted with sport in mind.
The Sport and Recreation Alliance therefore, commissioned Farrer & Co to produce model articles specifically for sports organisations which you can adapt and incorporate into your current articles to bring them in line with the 2006 Companies Act requirements.
You can access examples of constitutions and information about the Companies Act 2006 and the model articles from this page and the page below:
To receive the Sport and Recreation Alliance’s free daily sports news summary, a round-up of the day’s most interesting and informative news articles on sport and recreation, including links to original sources, email email@example.com