Further developments on Companies Act 2006 - Implementation Stage 6 April 2008
The staged introduction of Companies Act 2006, has already made interesting reading. It appears as though the ASB are taking a more ‘practical’ view on company statute and are making some impressive ‘common-sense’ amendments to an outdated CA85.
The next stage, is anticipated to be rolled out for implementation from 6th April 2008. The major developments worthy of mention are
-
Private companys are no longer required to have company secretaries.
- There is a shorter filing period as mentioned in a previous blog (private companies have 9 months).
- There are no longer any medium sized group exemptions (ie all non-small groups will need to consolidate).
- The turnover exemption for medium sized companies has also been abolished.
Watch this space for more updates and news, alternatively contact us directly…
Related Links
BERR:
http://www.berr.gov.uk/bbf/co-act-2006/index.html
ICAEW:
http://www.icaew.com/index.cfm?route=145195
Sir,
With all due respect, dont you think that there are other areas of UK company law that the new ACt 2006 ignored or barely touched. Or do you feel it covered everything?
Thanks in anticipation of your response.
Kelechi O
LLM Student
Durham University
Kelechi
I take your point although getting updates on issues such as directors' duties, Mem & Arts, financial assistance and reducing filing deadlines have all got to be good news. Which other areas would you like to have seen addressed?
Thanks
Gary