2006 c. 46

Part 1— General introductory provisions

Sections 1–6

1.
In the Companies Acts, unless the context otherwise requires—“company” means a company formed and registered under this Act, that is— a company so formed and registered after the commencement of this Part, or a company that immediately before the commencement of this Part— was formed and registered under the Companies Act 1985 (c. 6) or the Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6)), or was an existing company for the purposes of that Act or that Order, (which is to be treated on commencement as if formed and registered under this Act).
2.
Certain provisions of the Companies Acts apply to—
1. (a)
  companies registered, but not formed, under this Act (see Chapter 1 of Part 33), and
2. (b)
  bodies incorporated in the United Kingdom but not registered under this Act (see Chapter 2 of that Part).
3.
For provisions applying to companies incorporated outside the United Kingdom, see Part 34 (overseas companies).

1.
A company is a “limited company” if the liability of its members is limited by its constitution. It may be limited by shares or limited by guarantee.
2.
If their liability is limited to the amount, if any, unpaid on the shares held by them, the company is “limited by shares”.
3.
If their liability is limited to such amount as the members undertake to contribute to the assets of the company in the event of its being wound up, the company is “limited by guarantee”.
4.
If there is no limit on the liability of its members, the company is an “unlimited company”.

1.
A “private company” is any company that is not a public company.
2.
A “public company” is a company limited by shares or limited by guarantee and having a share capital—
1. (a)
  whose certificate of incorporation states that it is a public company, and
2. (b)
  in relation to which the requirements of this Act, or the former Companies Acts, as to registration or re-registration as a public company have been complied with on or after the relevant date.
3.
For the purposes of subsection (2)(b) the relevant date is—
1. (a)
  in relation to registration or re-registration in Great Britain, 22nd December 1980;
2. (b)
  in relation to registration or re-registration in Northern Ireland, 1st July 1983.
4.
For the two major differences between private and public companies, see Part 20.

1.
A company cannot be formed as, or become, a company limited by guarantee with a share capital.
2.
Provision to this effect has been in force—
1. (a)
  in Great Britain since 22nd December 1980, and
2. (b)
  in Northern Ireland since 1st July 1983.
3.
Any provision in the constitution of a company limited by guarantee that purports to divide the company's undertaking into shares or interests is a provision for a share capital. This applies whether or not the nominal value or number of the shares or interests is specified by the provision.