Section 567 | Exclusion of requirements by private companies

(1)All or any of the requirements of—

(a)section 561 (existing shareholders' right of pre-emption), or

(b)section 562 (communication of pre-emption offers to shareholders)

may be excluded by provision contained in the articles of a private company.

(2)They may be excluded—

(a)generally in relation to the allotment by the company of equity securities, or

(b)in relation to allotments of a particular description.

(3)Any requirement or authorisation contained in the articles of a private company that is inconsistent with either of those sections is treated for the purposes of this section as a provision excluding that section.

(4)A provision to which section 568 applies (exclusion of pre-emption right: corresponding right conferred by articles) is not to be treated as inconsistent with section 561.