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Terms and conditions applyCompanies Act 2006 (Previously: Company Law Reform Act)
TSO
Product details
Format: Book
Publisher: The Stationery Office
Date Published: Nov 2006
Stock Code: 60196
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Description
The Companies Act 2006(formerly known as Company Law Reform Act) 2006 is expected to gain Royal Assent in November 2006. Major changes are predicted for all areas of company law and practice and The Companies Act 2006 is expected to make it easier to set up and run a company. Changes will affect directors' duties, companies' constitutions, share capital and shareholder communications, accounts and audits and the registration of directors with Companies House.
The Act is also predicted to implement the EU Takeover and Transparency Directives. Small businesses are anticipated to benefit from the creation of a separate default constitution for private companies, need for private companies to have private secretaries to be abolished andsimplification of private companies decision-making procedures.
It is thought that larger companies will benefit from deregulation on registration of present and past members of the company andclarification of the rules on transfer of assets between companies in the same group.
For the first time, a statutory statement of directors' duties is also expected.
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