Clause 37

by deleting the words “A company, if so authorised by its articles” in subsection (1) and substituting the words “Subject to subsections (1B) and (1C), a company, if so authorised by its constitution”; and

by deleting subsection (1A) and substituting the following subsections:“(1A) A public company which alters its share capital may lodge with the Registrar a notice of the alteration in the prescribed form.(1B) A private company may alter its share capital by lodging a notice of alteration in the prescribed form with the Registrar.(1C) An alteration of share capital of a private company on or after the date of commencement of section 37 of the Companies (Amendment) Act 2014 does not take effect until the electronic register of members of the company is updated by the Registrar under section 196A(5).”.