|Different classes of members in companies limited by guarantee (with no share capital) and unlimited companies (with no share capital) |
|A company limited by guarantee (with no share capital) or an unlimited company (with no share capital) may have more than one class of members if desired. The different classes may, for example, have different voting rights at general meetings of the company, or may have different rights, as between themselves, regarding their respective contributions in the case of a winding up. These rights may be conferred in the company's memorandum or articles of association or by a resolution passed, or some other act done, pursuant to suitable provisions in that regard in the memorandum or articles.|
If different members have different rights (in respect of voting or any other matter) there are accordingly separate classes and the different classes of members are required to be distinguished in the company's register of members - section 352(4) of the Companies Act 1985.
The articles of association which UKcorporator will generate for you, provide that the company may by special resolution create different classes of membership in the company and may also by special resolution stipulate the rights and/or liabilities attaching to any class of membership from time to time.