More than 20,000 high-street accountants and solicitors are set
to receive leaflets explaining important changes to company
law.
The Companies Act 2006 makes sweeping changes to improve and
simplify company law. The changes are being phased in over 3
years.
CHANGES
The first set of measures that have just come into place,
especially relevant to solicitors and accountants, include:
- the accounting and reporting requirements for small
companies are being brought together into a single set of
regulations - this will make things simpler for small companies and
their advisors
- private companies will no longer be required to have a
company secretary
- the time in which private companies can file their
accounts with the Registrar of Companies has been reduced from 10
to nine months
EXISTING MEASURES
Parts of the Act that have already come into force include:
- companies can make greater use of electronic
communications for contact with shareholders
- private companies do not need to hold an annual general
meeting unless they positively opt to do so
FURTHER INFORMATION
Further changes are set to come in on 1st October 08 and 1st
October 09.
For further information please visit: www.berr.gov.uk/bbf/co-act-2006.