In the case of a company limited by guarantee and not having a share capital any provision in the company's articles, or in any resolution of the company, purporting to give a person a right to participate in the divisible profits of the company otherwise than as a member is void.
Section 37: Right to participate in profits otherwise than as member void
Companies Act 2006 · 2006 c. 46View on legislation.gov.uk
Part 3: A company's constitution — Chapter 4: Miscellaneous and supplementary provisions
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