The Companies (Forms) (Amendment) Regulations 1988

Made: 29th July 1988

Coming into force: 1st August 1988

The Secretary of State, in exercise of the powers conferred upon him by sections 88(2)(a) and 744 of the Companies Act 1985[^f00001], hereby makes the following Regulations:–

1

• (1) These Regulations may be cited as the Companies (Forms) (Amendment) Regulations 1988 and shall come into force on 1st August 1988.

• (2) In these Regulations, “the 1985 Regulations” means the Companies (Forms) Regulations 1985[^f00002].

2

• (1) The form 88(2) set out in the Schedule to these Regulations, with such variations as circumstances require, is the form prescribed for the purposes of section 88(2)(a) of the Companies Act 1985.

• (2) The form 88(2) set out in Schedule 3 to the 1985 Regulations is revoked, except to the extent specified in regulation 3 below.

• (3) Regulation 5 of the 1985 Regulations is revoked, except to the extent specified in regulation 3 below.

3

• (1) Notwithstanding the repeal of section 47(1) of the Finance Act 1973[^f00003] and the provisions of regulation 2(2) and (3) above, the form 88(2) revoked by regulation 2(2) above, and the forms prescribed by regulation 5 of the 1985 Regulations (which is revoked by regulation 2(3) above)–

• (a) shall, in any case where the allotment of shares was made before 16th March 1988, be used for the purposes of section 88(2) of the Companies Act 1985 instead of the form prescribed by these Regulations; and

• (b) may, in any other case, be used for those purposes instead of the form prescribed by these Regulations.

• (2) Paragraph (1)(b) applies only in relation to documents received by the registrar of companies before 1st August 1988.

THE SCHEDULE

Signed

Sarah E. Brown — An Under Secretary, — Department of Trade and Industry — 29th July 1988

Explanatory note

(This note is not part of the Regulations)

These Regulations further amend the Companies (Forms) Regulations 1985 as amended by the Companies (Forms) (Amendment) Regulations 1986 and the Companies (Forms) (Amendment) Regulations 1987.

They prescribe a new Form 88(2), to take account of the repeal of section 47(1) of the Finance Act 1973 (which provided for the payment of stamp duty on documents relating to chargeable transactions of capital companies). The forms previously prescribed under the provisions of section 88(2)(a) of the Companies Act 1985 are revoked, except in relation–

• (a) to any allotment of shares made before 16th March 1988, where the previously prescribed forms must be used;

• (b) to documents received by the registrar of companies before 1st August 1988 which relate to any allotment of shares made on or after 16th March 1988, where the previously prescribed forms may be used.

Footnotes

[^f00001]: 1985 c. 6.

[^f00002]: S.I. 1985/854, amended by S.I. 1986/2097, 1987/752.

[^f00003]: 1973 c. 51; section 47(1) was repealed by the Finance Act 1988 (c. 39), section 148 and Schedule 14, Part XI.