A business example
A founder receives an offer to buy her shares from an outside investor.
Offer received
The buyer and seller agree a proposed price.
Articles checked
The articles contain a process for offering shares to existing members first.
Transfer planned
The parties account for that process before finalising completion.
What this shows
A commercially attractive offer does not remove the company's internal transfer rules. The articles can change the steps needed to complete it.
What it is often confused with
A private agreement between shareholders does not automatically amend the articles.
What to look at in your business
Compare the current articles with the proposed action and any shareholder agreement.
Context and further reading
MCA: incorporation and linked filing FAQs. This reference supports the terminology; use the linked guide for applicability and operative requirements.
Kosha.Services · Updated 2 October 2026