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Companies Act 2006
Are you prepared?
The biggest upheaval in Company Law since 1985 is being phased in over the next two years.
The overall objective of the Act is to make it easier to set up and run smaller companies, by simplifying the regulation of companies, providing the first ever codification of directors duties, (existing duties have developed mainly though case law), together with various rules relating to the filing of accounts.
Some of the other areas of reform include:
- Replacing Table A with a single document, which includes the companies constitution
- No more need for a company secretary
- Audit compliance
- Disclosure by directors of other shareholdings
If you would like to know more about these or other reforms coming up, please contact Eileen Godfrey, Head of Commercial on 0800 9178267.