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UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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Hi As a company we did not adopt shareholders agreement I

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As a company we did not adopt shareholders agreement I understand that by law we have by default adopted model articles as provided by companies house. Is this correct?
Secondly I understand that the model articles stipulate that voting is by poll i.e. a show of hands one man one vote. there are 2 shareholders 70/30 share split. The 30% shareholder is the MD and only director. Does this mean the MD cannot be removed by the majority shareholder other than for the clauses stated in the model articles?

I would respond to your queries as follows

1) yes, the model articles are by default applicable if no special articles have been adopted

2) yes, voting is by show of hands under the model articles unless a poll is demanded in accordance with the articles.

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Customer: replied 3 years ago.



Welcome Alison,

Please leave feedback and if you need further help, please contact me.