December 2006

New Companies Act Now Law

The Companies Act 2006 has finally received Royal Assent. The Act aims to simplify and improve company law and will take two years to implement.

Running to some 1,300 sections the Act sets out the way companies are formed, managed and the legal requirements including new responsibilities for directors.

Trade and Industry Secretary Alistair Darling said that there would be ‘widespread and effective communication’ to ensure that businesses understand the new Act.

We will of course be in touch with those businesses that are affected by the changes in the law but do get in touch if you have any immediate queries or concerns.

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press release