n Without Prejudice - Extra muscle for boards : company law

Volume 10, Issue 9
  • ISSN : 1681-178X



Under the 2008 Companies Act a company's board has considerable authority which was conventionally assumed by the shareholders. A significant change introduced in the new Act is that the power to issue shares, including the power to increase the authorised share capital, will be exercisable by the board instead of the shareholders in general meetings, provided the memorandum of incorporation (MOI) authorises this.

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