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Q: Minimum Number of Shareholders for a Private Limited Company (England) ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: Minimum Number of Shareholders for a Private Limited Company (England)
Category: Business and Money > Small Businesses
Asked by: probonopublico-ga
List Price: $10.00
Posted: 31 May 2003 06:53 PDT
Expires: 30 Jun 2003 06:53 PDT
Question ID: 211093
These days, Private Limited Companies need only one shareholder; but,
not so long ago, a minimum of two were required.

When did this change take place, please?

Also, please cite the relevant regulation.

Many thanks.

Bryan
Answer  
Subject: Re: Minimum Number of Shareholders for a Private Limited Company (England)
Answered By: leli-ga on 31 May 2003 07:38 PDT
Rated:5 out of 5 stars
 
Hello probonopublico!

Always good to see you here.

The answer is that this has been possible since July 1992 under the
Companies (Single Member Private Limited Companies) Regulations 1992
(SI 1992/1699). Although 14 July is mentioned in the first excerpt, a
close reading of the legislation makes it clear that the regulations
didn't really take effect until the following day, i.e. 15 July


"WHAT IS A SINGLE MEMBER COMPANY?

A single member company is a private company, limited by shares or by
guarantee, which is incorporated with one member, or whose membership
is reduced to one person.

Regulations for single member companies came into force on 14th July
1992 (Statutory Instrument 1992 No.1699 - The Companies (Single Member
Private Limited Companies) Regulations 1992)."
http://www.mmpaudit.co.uk/articles/single_member_companies.html


Now the official government site. (Please don't miss the signature.
Yes, it is really him, in his pre-pantomime days.)

"Statutory Instrument 1992 No. 1699
The Companies (Single Member Private Limited Companies) Regulations
1992 "
http://www.hmso.gov.uk/si/si1992/Uksi_19921699_en_1.htm


My search strategy was to ask someone who was certain to know the
answer. Then I had only to search under:
"single member private limited companies regulations 1992"
://www.google.co.uk/search?hl=en&ie=UTF-8&oe=UTF-8&q=++%22single+member+private+limited+companies+regulations+1992%22&btnG=Google+Search&meta=

This was handy for me and, I hope, useful for you. You know you have
only to ask and I will be happy to offer clarification.

Regards - Leli
probonopublico-ga rated this answer:5 out of 5 stars
Brilliant, Leli

Always good to see the brightest star twinkling.

Exactly what I wanted & very quick, too!

KR
Bryan

Comments  
Subject: Re: Minimum Number of Shareholders for a Private Limited Company (England)
From: leli-ga on 31 May 2003 09:47 PDT
 
Thank-you, Bryan, for your kind words and stars. Glad I could help.

Leli

P.S. Hope the play went well.

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