Feeds

Government postpones company law reforms

But some parts may still arrive October 2008

Combat fraud and increase customer satisfaction

The date when significant parts of the Companies Act come into force has been put back a year. It will now be 1 October 2009 instead of 1 October 2008, according to the UK Government.

Stephen Timms, Minister of State for Competitiveness, made a written statement to Parliament today detailing changes to the Companies Act Implementation timetable.

Timms said the systems needed to implement the changes were not ready yet. "We need to make sure the necessary changes to the Companies House systems and processes are in place before we bring the final provisions of the Act into force," he said. "We are giving business early warning of this change in the implementation timetable so they do not incur unnecessary costs".

The Department for Business, Enterprise and Regulatory Reform (BERR) said that it would consult with business to see whether some provisions of the Act can still come into force in October next year.

Those parts of the Act which were due to come into force in April of next year will still do so, said BERR.

Among the elements that have been delayed are requirements relating to company formation and a company's internal constitution; directors' residential addresses; company and business names; and a company's share capital.

The elements which come into force next April include a separate, comprehensive "code" of accounting and reporting requirements for small companies and abolition of the requirement for private companies to have a company secretary.

Timms published an amended timetable for implementation, and said that a further timetable would be published in December.

Copyright © 2007, OUT-LAW.com

OUT-LAW.COM is part of international law firm Pinsent Masons.

Combat fraud and increase customer satisfaction

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.