Exemption from using the word "Limited" in a Company Name
C
Exemption from using the word “Limited” in a Company Name
C
*any profits, or other income, are to be spent in
promoting the company's objects;
*no dividends are to be paid to members;
*if the company is wound up, all the assets are to
be transferred to another body which has similar
objects, or which promotes a charity.
A company that wishes to be exempt from using the word "limited" in its name must satisfy all of
the above conditions. If you are not sure whether your company qualifies you should consult a
solicitor.
WHAT IF A COMPANY THAT ALREADY EXISTS WANTS
TO CLAIM THE EXEMPTION?
If the company already exists you must pass a special resolution to change the company's name, so as to omit the word "limited", and send it to the Registrar of Companies together with a statutory declaration on
form 30(5)(c). More information about changing the
name of your company is available in (CHN4) "Change
of Name"
The forms are available free of charge from Companies House in Cardiff and Edinburgh.
In addition, a company which was a private company limited by shares on 25 February 1982 may also be
exempt, but only if it did not include "limited" in its
name because it had a licence under section 19 of the
Companies Act 1948 at that date, and it complies with
the requirements set out above.
IF MY COMPANY QUALIFIES, HOW DO I CLAIM THE
EXEMPTION?
When your company is being formed you must make a
statutory declaration on form 30(5)(a) and send it to the Registrar with your incorporation documents. More information about forming companies is available in (CHN1) - "New Companies".
2.
HOW MUCH WILL IT COST?
There is no extra charge for being given exemption to omit the word "limited" from your company name.
If you are claiming the exemption when the company is being formed you only have to pay the standard
incorporation fee of £50.
If you are claiming the exemption for a company that already exists you only have to pay the standard
change of name fee of £50.
3.