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August 2006

Is your company ready for compulsory electronic filing at Companies House?

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.

One of its measures will allow the Secretary of State to require prescribed documents to be delivered to the Registrar of Companies by electronic means only. The Secretary of State is very likely to use these powers, thus ending the regime of paper filing that commenced on 29th September 1844.

There will be other changes affecting how companies provide information to Companies House which include:

  • There will be a new offence of knowingly or recklessly delivering misleading, false or deceptive information.
  • In certain circumstances Companies House will be able to correct documents submitted instead of sending them back.
  • All directors and all company secretaries will be able to keep their residential addresses off the public record at Companies House.
  • Public companies will be required to submit a list of significant shareholdings, this means 3 per cent or more, with their annual returns. The present requirement of submitting a full list means that some companies submit more than a million names and addresses, the change could reduce this to just three or four names and addresses.

When the Government introduced the Company Law Reform Bill one of its main aims was to simplify company law. Just 9 months ago the Bill had 37 parts, 885 Clauses and 15 Schedules. On 20th July its title changed to the Companies Bill and it had grown to 47 parts and 1264 Clauses, but still 15 Schedules. Parliament has not finished and we are expecting it to become bigger still. Royal Assent is expected 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 is in the process of writing 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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