Section 570(1)

Where the directors of a company are generally authorised for the purposes of section 551 (power of directors to allot shares etc: authorisation by company), they may be given power by the articles, or by a special resolution of the company, to allot equity securities pursuant to that authorisation as if section 561 (existing shareholders' right of pre-emption)— did not apply to the allotment, or applied to the allotment with such modifications as the directors may determine.

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Source: legislation.gov.uk · retrieved 2026-09-04