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The Companies Act 2006
09 /07 /2007
Download documentThe Companies Act 2006 represents the final steps towards the widest reaching review and restatement of company law for over 20 years. It is 700 pages long, contains over 1500 clauses within 1264 sections. In fact, it is the largest single piece of legislation ever laid before parliament.
The Act aims to make company law more flexible and cost-effective and to ease the administrative burden on companies. With this in mind the Act proposes a number of changes including:
further deregulation of companies, particularly private companies
new provisions to facilitate electronic and other means of communication
a codified statement of directors duties changes to the share capital maintenance regime
provisions enabling companies, shareholders and indirect investors to better communicate with each other
changes to auditing and accounting provisions