Companies Act 2014 section 1216

Disclosure of membership changes in CLG's financial statements

Section 1216 deals with the disclosure requirements for changes in members' interests in a Company Limited by Guarantee (CLG), replacing the share capital disclosure rules that apply to other company types.

• The standard share capital disclosure requirements under Section 318 do not apply to CLGs, as CLGs do not have share capital.
• Where changes in members' interests occur during a CLG's financial year, these must be disclosed in the notes to the financial statements.
• The particulars of any such membership changes must be set out clearly in the notes accompanying the relevant financial statements.
• This requirement ensures transparency about membership movements in CLGs, mirroring the spirit of share capital disclosures required of other company types.