# Companies Act 2006, Section 550: Power of directors to allot shares etc: private company with only one class of shares


Where a private company has only one class of shares, the directors may exercise any power of the company—
(a) to allot shares of that class, or
(b) to grant rights to subscribe for or to convert any security into such shares,
except to the extent that they are prohibited from doing so by the company's articles.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/550 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-550
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.