Shareholders’ Special Resolution – Adoption of New Articles of Association
New Articles of Association may be adopted by the shareholders passing a special resolution in a general meeting or by written resolution. A copy of the resolution and the new articles of association must be sent to Companies House within 15 days.
The adoption of new Articles of Association cannot be made in breach of other company law rules and there are protections against such changes where they increase the liability of individual shareholders, vary the rights of any class of shareholders or otherwise prejudice minority shareholders.
Shareholders’ Special Resolutions require the votes of 75% of members present in person or by proxy, who are entitled to vote and do vote at the meeting. The meeting at which the resolution is proposed must have had at least 14 days notice, unless a shorter period was agreed by a majority in number of members holding at least 90% of the shares (95% in the case of public companies).
Alternatively, the written resolution procedure can be used, and the resolution will be passed if approved by shareholders representing 75% of the total voting rights of the shareholders entitled to vote on the written resolution on the day it is circulated.
This document sets out the required wording of the special resolution. If it is to be passed at a general meeting, it should be used in conjunction with "Shareholders’ resolutions – General Meeting Format". If it is to be passed as a written resolution, it should be used in conjunction with “Shareholders’ Written Ordinary Resolution”.
This Shareholders’ Special Resolution – Adoption of New Articles of Association is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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