Companies Act 2006 – Advice, Information and Updates
The Companies Acts which govern how UK limited companies operate have existed for over 150 years in various forms. The Companies Act 2006 is the latest legislation to update and modernise company law to allow companies more freedom to operate.
The latest Companies Act 2006 has introduced some significant changes including-
- Changes to the way companies are registered
- Changes to the requirement for company secretaries to be appointed
- Introduction of model Articles
- Introduction of a Statement of Capital
- Restrictions on Corporate Directors
- Introduction of Director’s service addresses
- New Companies House forms and new names for the forms
- Reduction in time premitted to file accounts
For existing companies registered before the new act was implemented the changes will have little immediate impact. For companies that have been registered since the 2006 act was implemented there are some considerable amendments to the way companies are formed and subsequently operate.
Ultimately the Companies Act 2006 will affect all companies whether registered before or after the act was implemented.