Corporate and Commercial

Companies Act 2006 Update

With effect from 1st October 2009, the final elements of the Companies Act 2006 were brought into effect. All companies incorporated in the UK will now find that their constitutional documents (Articles and Memorandum of Association) are subject to the new Act, regardless of when such companies were incorporated.

The constitution for your company may now include provisions which are out of date, unnecessary or even invalid and difficult to interpet. If this is the case, then you may not be making full use of the more simple and accessible regulatory regime which has been introduced by the new Act.

For example, did you realise that your company may no longer be required to have a Company Secretary or to hold an AGM each year? Did you know that decisions at shareholder level can now be taken in writing without unanimity and without calling a formal meeting? And did you know that directors may now have authority to allot certain shares without restriction as to period or amount?  

We would be happy to discuss your requirements in this area, and then review and amend your documentation as required.  

The new Act imposes more detailed duties and obligations in other areas of company law, for example with regard to the duties of directors, and we would be be pleased to assist with any such issues or in relation to any other corporate or commercial matter.

Please contact Keith McAlister