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A new Companies Act

I was talking to an American client recently who asked me why the UK still has legislation from 1985. Thankfully this is about to change.

The Companies Act, and the various revisions to it, dictate the way most business is conducted and administered in the UK. A major revision to the act has been finalised, with the final changes being implemented in October 2008.

The major upside of this for Companies is that the amount of ‘red tape’ is expected to be reduced – especially for small businesses. This is a relief for the many directors and shareholders who find the current Companies Act difficult to understand.

 

 

Date: 1st March, 2007
Author: Gary Farnes

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