The final provisions of the Companies Act 2006
Monday, 12th October 2009
They introduce a raft of important changes to company law which directly concern owner managed businesses, directors, shareholders as well as those involved in advising companies such as bankers and accountants.
These final provisions are seen by many to be the most important as it is a considerable overhaul of company law and of the forms and procedures used. The new Act has substantially altered the way in which both private and public companies are administered.
New model company articles have been introduced, replacing the old Table A articles. They apply to all companies incorporated after 1st October and will apply in default. Companies can continue to use their old articles but now is a good time to review them in light of the recent changes.
The memorandum will no longer form part of the company’s constitution and will be a simple and much changed document. Companies House has changed all the references for their forms and the forms themselves have been updated in many instances.
Directors can have a ‘service’ address for documents which protects their residential address. The company’s statutory books can be held at a separate location from the registered office – the ‘Single Alternative Inspection Location’, very catchy.
With the earlier introductions such as the codification of directors duties and the removal of a requirement to have a company secretary there has never been more change in company law than over the last few years, so it’s a good time to review how your company is set up and make sure it is in line with what you want to achieve.
If you would like advice on the final provisions of the Companies Act 2006 please contact our corporate and commercial law specialist Marc Porritt-Allison on 01904 624185 or
email m.porritt-allison@crombiewilkinson.co.uk
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