Companies Act Update |
1st October 2008 Implementations |
The following provisions of the Companies Act 2006 will come into force on 1st October 2008:
• Objection to Company Names – Sections 69 to 74 • Trading Disclosures – Sections 82 to 85 • Corporate directors and under-age directors – Sections 155 to 159 • Provisions relating to the directors’ ‘conflicts of interest duties’ – Part 10 • Share capital reduction through the solvency statement route – Sections 641 to 644 • Control of political donations and expenditure, provisions relating to an independent candidate – Sections 362 to 379 • Power of court to grant relief in certain cases – Section 1157 • Restoration for personal injury claims of companies dissolved prior to 16 November 1969 - Section 1295 of the 2006 Act, and Schedule 16 (repeals) Other changes coming into force on 1st October 2008 • Repeal of the restrictions on financial assistance for acquisition of shares in private companies – Sections 151 to 153 and 155 to 158 (1985 Act) • Changes to the requirements of annual returns (1985 Act) • Limited Liability Partnership changes to bring accounts content in line with the company regulations. Details of the commencement timetable and frequently asked questions covering the issues highlighted above and other provisions within the Act can be found on the Department for Business, Enterprise and Regulatory Reform (BERR) website at www.berr.gov.uk/bbf/co-act-2006.
For customers currently using our Nominee Director Service, our Formations Team will be in touch shortly regarding these changes.
Should you require further information in the interim please don’t hesitate to contact Kathryn Hopkins on 0290 451444 or email kathryn.hopkins@7side.co.uk.
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