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Shareholders in Ltd company

Re: Shareholders in Ltd company

Postby Smouldering Stoat » Wed Aug 02, 2017 9:45 pm

That would merely reveal for which organisation you wished to cause trouble, not why you think it is your business to cause it.
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Re: Shareholders in Ltd company

Postby jantra » Wed Sep 13, 2017 1:31 pm

inshallah wrote:
theycantdothat wrote:
inshallah wrote:
dls wrote:The unincorporated association does not itself hold the shares. Such an association holds its assets generally in the name of its trustees.


Oh well in this case it is held in the name " The Unincorporated Association" and is also listed as the "Person"with significant control . Can that be legit ?


Probably not. An unincorporated association has no separate identity from its members. The members are the association and the association is its members.


Hmm, so I wonder why would Company's House have allowed this, I guess just not spotting it many years ago when it was formed and not picked it up even now ?.


LLPs quite often hold shares on behalf of its members. this is a common way of, ahem, planning for tax, specifically in the film industry.
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Re: Shareholders in Ltd company

Postby jantra » Wed Sep 13, 2017 1:35 pm

inshallah wrote:
theycantdothat wrote:
inshallah wrote:I just cannot see how it can be done, legally ?.


My opinion: I do not see why it has to be different from correcting any other mistake in describing a shareholder. If a shareholder's name is John Henry Smith and the company records show John Harold Smith, the secretary just makes the change in the records and issues a new share certificate to replace the old one. Companies House is informed of the change by the next annual return (or whatever they call it now).


Well in this specific case (2 companies actually) it is not simply a CORRECTION of a personal name which could easily be seen as an error, but this shareholder is the name , for example "The Unincorporated Association" . So what exactly do they correct in that name to make it right ?. They cannot put "The Unincorporated Association LTD" as the shareholder as that doesn't exist anyway, it is not a simple slip/error. IF they had simply forgotten to put "Ltd" at the end or some other simple slip, fine I can understand the ease of correction, BUT in this case we are speaking of a Shareholder that doesn't exist in the way that allows it to be shareholder. What if the association has 276 members. WHO can simply replace the shareholder and say all is well and dandy ?. Maybe the replacement would be a person with zero money, How would the banks holding charges feel then ?. AND the UA doesn't want to lose control of the company but it clearly has by mistakenly thinking that they could be a Shareholder in their name .


I would want to know why the bank have a charge over a shareholder, rather than a director or company property
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