Commercial Law Services

Be a modern company

Company law is changing. The new law is written in the Companies Act 2006. The provisions of the new law will come into force in stages. Some of the provisions are already law. The last stage is October 2009.

What are the main changes for private companies? Well, there will no longer be a need to have a company secretary unless you choose to do so; shareholder meetings and making decisions can be less formal; it will be possible to set up a new company more quickly and with less paperwork; directors responsibilities are set out in the new act to ensure that they act in best interests of the company and take account of shareholders and other stakeholders rights; there are also more ways of signing legal documents.

Why the changes? The government wants to modernise and deregulate company law so it is easier to set up and run companies both now and in the future. Only time will tell if their aims are met.

For more information please call your dgb contact or visit www.companieshouse.gov.uk