Companies Act Changes Afoot

The Companies Act 2006 is, at 761 pages, the longest Act of Parliament in British history and was only fully implemented in October. However, changes are already afoot! Apparently, the sections of the Act which require disclosure of share capital (the ‘statement of capital’ in the Act) have been recognised as being too difficult for some companies to comply with – so a consultation exercise has been launched by the Department for Business, Innovation and Skills (BIS) to consider how the Act may be revised.

More details can be found on the BIS website.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.