diff --git a/substrate/node/runtime/src/lib.rs b/substrate/node/runtime/src/lib.rs
index fd1b13fdd0..5a43ccfda2 100644
--- a/substrate/node/runtime/src/lib.rs
+++ b/substrate/node/runtime/src/lib.rs
@@ -66,8 +66,8 @@ pub const VERSION: RuntimeVersion = RuntimeVersion {
 	// Per convention: if the runtime behavior changes, increment spec_version and set impl_version
 	// to equal spec_version. If only runtime implementation changes and behavior does not, then
 	// leave spec_version as is and increment impl_version.
-	spec_version: 101,
-	impl_version: 101,
+	spec_version: 102,
+	impl_version: 102,
 	apis: RUNTIME_API_VERSIONS,
 };
 
diff --git a/substrate/srml/contracts/src/lib.rs b/substrate/srml/contracts/src/lib.rs
index ec836419ab..1a9e09ba3f 100644
--- a/substrate/srml/contracts/src/lib.rs
+++ b/substrate/srml/contracts/src/lib.rs
@@ -886,6 +886,9 @@ pub struct Schedule {
 	/// Maximum number of memory pages allowed for a contract.
 	pub max_memory_pages: u32,
 
+	/// Maximum allowed size of a declared table.
+	pub max_table_size: u32,
+
 	/// Whether the `ext_println` function is allowed to be used contracts.
 	/// MUST only be enabled for `dev` chains, NOT for production chains
 	pub enable_println: bool,
@@ -912,6 +915,7 @@ impl Default for Schedule {
 			max_event_topics: 4,
 			max_stack_height: 64 * 1024,
 			max_memory_pages: 16,
+			max_table_size: 16 * 1024,
 			enable_println: false,
 			max_subject_len: 32,
 		}
diff --git a/substrate/srml/contracts/src/wasm/prepare.rs b/substrate/srml/contracts/src/wasm/prepare.rs
index 0aed3655e8..c135c45d3a 100644
--- a/substrate/srml/contracts/src/wasm/prepare.rs
+++ b/substrate/srml/contracts/src/wasm/prepare.rs
@@ -74,6 +74,25 @@ impl<'a> ContractModule<'a> {
 		Ok(())
 	}
 
+	/// Ensures that tables declared in the module are not too big.
+	fn ensure_table_size_limit(&self, limit: u32) -> Result<(), &'static str> {
+        if let Some(table_section) = self.module.table_section() {
+			// In Wasm MVP spec, there may be at most one table declared. Double check this
+			// explicitly just in case the Wasm version changes.
+			if table_section.entries().len() > 1 {
+				return Err("multiple tables declared");
+			}
+			if let Some(table_type) = table_section.entries().first() {
+				// Check the table's initial size as there is no instruction or environment function
+				// capable of growing the table.
+				if table_type.limits().initial() > limit {
+					return Err("table exceeds maximum size allowed")
+				}
+			}
+		}
+		Ok(())
+	}
+
 	fn inject_gas_metering(self) -> Result<Self, &'static str> {
 		let gas_rules =
 			rules::Set::new(
@@ -271,6 +290,7 @@ pub fn prepare_contract<C: ImportSatisfyCheck>(
 	let mut contract_module = ContractModule::new(original_code, schedule)?;
 	contract_module.scan_exports()?;
 	contract_module.ensure_no_internal_memory()?;
+	contract_module.ensure_table_size_limit(schedule.max_table_size)?;
 
 	struct MemoryDefinition {
 		initial: u32,
@@ -503,6 +523,49 @@ mod tests {
 		);
 	}
 
+	mod tables {
+		use super::*;
+
+		// Tests below assumes that maximum table size is configured to a certain number.
+		#[test]
+		fn assume_table_size() {
+			assert_eq!(Schedule::default().max_table_size, 16384);
+		}
+
+		prepare_test!(no_tables,
+			r#"
+			(module
+				(func (export "call"))
+				(func (export "deploy"))
+			)
+			"#,
+			Ok(_)
+		);
+
+		prepare_test!(table_valid_size,
+			r#"
+			(module
+				(table 10000 funcref)
+
+				(func (export "call"))
+				(func (export "deploy"))
+			)
+			"#,
+			Ok(_)
+		);
+
+		prepare_test!(table_too_big,
+			r#"
+			(module
+				(table 20000 funcref)
+
+				(func (export "call"))
+				(func (export "deploy"))
+			)"#,
+			Err("table exceeds maximum size allowed")
+		);
+	}
+
 	mod imports {
 		use super::*;