The Companies Act 2006 (Commencement No. 5, Transitional Provisions and Savings) Order 2007

Minimum share capital requirement for public companies (ss.761 to 767)

28.—(1) Until section 1068(1) of the Companies Act 2006 comes into force—

(a) an application under section 762 of that Act must be in the form prescribed for the purposes of section 117(2) of the 1985 Act or Article 127(2) of the 1986 Order;

(b) the statement and information required by section 762(1)(a) to (c) must be provided on the form prescribed for the statutory declaration required by section 117(3) of the 1985 Act or Article 127(3) of the 1986 Order (but not in the form of a statutory declaration and disregarding so much of the form as requires other information);

(c) a company seeking to satisfy the minimum share capital requirement in euros may adapt the form accordingly; and

(d) the form must be signed by a director or by the company secretary.

(2) A form completed in accordance with sub-paragraph (1) is treated as the statement of compliance required by section 762(1)(d) and (2).

(3) By adapting the form as mentioned in paragraph (1)(c) the applicant is treated as electing that euros shall be the currency by reference to which it is determined whether the requirement mentioned in section 765(1) is met.

(4) By not so adapting the form the applicant is treated as electing that sterling shall be that currency.

(5) Sub-paragraphs (1)(c), (3) and (4) above also apply in relation to the form prescribed for the purposes of section 43(3) of the 1985 Act or Article 53(3) of the 1986 Order (re-registration or private company as public) where a company seeks to satisfy the minimum share capital requirement in section 45(2)(a) of that Act or Article 55(2)(a) of that Order in euros.