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September 2006

Are you ready for the new law about authorised signatories?

Roger MasonRoger Mason has carefully scrutinised the content of the Companies Bill which will almost certainly become law by November 2006. It will then be The Companies Act 2006. Roger believes that this new legislation will without doubt fundamentally change how companies operate in the UK. You can quickly understand all the ramifications of this new legislation by attending Roger's seminar, The Impact of the Companies Act 2006.

The Companies Bill provides for a new regime regarding the authorised signatories of a company. It is intended that all people who are registered at Companies House as a director will automatically be an authorised signatory as will people who are registered as a company secretary of a public company. However, company secretaries of private companies will not automatically be authorised signatories. Anyone, who gives their consent, can be registered by the directors of the company as an authorised signatory. It is intended that once the decision is made for someone to be an authorised signatory their details will be entered into a new statutory register and notified to Companies House on a special form and that any subsequent changes of details, such as their service address, will be entered in the register and notified to Companies House.

Authorised signatories will have the following powers.

  • They will be able to execute documents on behalf of the company; either jointly with another authorised signatory; or alone, having their signature witnessed.
  • They will be able to sign forms for Companies House.
  • They will be able to sign any document on behalf of the company.

Curiously a company secretary of a private company who is not an authorised signatory will have virtually no powers whilst a company secretary of a private company who is an authorised signatory will in some ways have more power than at present.

It does not follow that only authorised signatories will be able to enter into contracts on behalf of the company.

The Bill is expected to be on the statute book by November and we will then have The Companies Act 2006. Directors, Company Secretaries and others will have to spend a lot of time preparing to cope with the impact that this major Act will have on them and their companies.

Roger Mason has great knowledge of Company Law and has written several books on this and related subjects. He writes and presents many seminars for UK Training and he is well recognised as being a foremost expert in Company Law. The number of times that delegates have heaped praise on Roger are too many to recount, the common message is 'Roger certainly knows his stuff and knows how to put it over'. He has written a seminar which will clearly explain the impact that The Companies Act 2006 will have on UK companies, shareholders, directors, company secretaries, employees and auditors. The seminar will be presented extensively throughout the UK in September, October and November. The demand for places is high and several presentations are already full. To avoid disappointment we suggest you book now.

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