section 80 authority

section 80 authority
Authority granted to the directors of a company to enable them to allot relevant securities (required by section 80, Companies Act 1985).
The directors can be authorised to allot shares in one of two ways:
• By ordinary resolution (even if it alters the articles of association of the company).
• By the company's articles of association.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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