Issue of Preference Shares
All companies. Issue of preference shares requires a Special Resolution by shareholders and the Articles must permit it. Preference shares must carry a preferential right as to dividend and repayment of capital.
Shares move fast in a growing company. Compliance shouldn't be what slows it down. Section 55(1) is the line every share movement has to respect. In real terms: irredeemable preference shares cannot be issued. This is exactly the kind of resolution Fi CTC Generator was built to make effortless.
Issue of preference shares requires a Special Resolution by shareholders. Form MGT-14 must be filed within 30 days of the Special Resolution.
Section 55(1), Companies Act 2013
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