 The publication sets out the key areas of change in the new Act and provides answers to forty-nine common questions about the Act. It also refers to the DTI Ministerial Statement and Consultative Document published on 28 February 2007. In particular the publication covers the new rules in the following areas. Directors' duties Shareholder rights Electronic communications Derivative claims The Business Review Voting of institutional shareholders Private company de-regulation Directors' liability provisions
It is aimed at: Non-executive directors, including Audit Committee members, of listed companies; and FDs and FCs of public companies."
Almost ten years ago the Government decided that the time had come to embark on a fundamental review of the framework of company law. The object of the review was to put forward proposals for a modern law for the modern world which would promote the competitiveness of UK companies. The last decade has been a long time in corporate matters and so the 2006 Companies Act has had to address a number of issues, such as increased levels of activism from shareholders and lobbying groups, that were not even considered in those initial Company Law Reform consultation papers. The Act is the largest piece of legislation to pass through Parliament and runs to almost 1,300 sections. It is an amending and reforming statute that seeks to consolidate existing company legislation, to restate the previous law into clearer and simpler language and to introduce new provisions. For more informatuion, download our publication Q&As on the 2006 Companies Act (PDF, 215 KB). |
