Every company director in the UK is expected to understand and comply with The Companies Act 2006 which received Royal Assent on 8 November 2006. The Act is defined by 47 Parts and 1300 paragraphs covering:
Company formation, a company’s constitution, a company’s capacity and related matters, a company’s name, a company’s registered office, re-registration as a means of altering a company’s status, a company’s members, exercise of members’ rights, a company’s directors, derivative claims and proceedings by members, company secretaries, resolutions and meetings, control of political donations and expenditure, accounts and reports, audit, a company’s share capital, acquisition by limited company of its own shares, debentures, private and public companies, certification and transfer of securities, information about interests in a company’s shares, distributions, a company’s annual return, company charges, mergers and divisions of public companies, takeovers etc, fraudulent trading, dissolution and restoration to the register, company investigations: amendments, UK companies not formed under companies legislation, overseas companies, the registrar of companies, offences under the Companies Acts, companies: supplementary provisions, companies: interpretation, companies: minor amendments, company directors: foreign disqualification etc, business names, statutory auditors, transparency obligations and related matters.
The sensible company director seeks assistance on a continuing basis to ensure ongoing compliance with the Companies Act 2006.
Unfortunately not all company directors are aware of their responsibilities and often discover to their peril that they have fallen foul of the rules and incur penalties and/or prosecution.
ICL Commercial Law provides advisory services to the company director from pre-formation through the successful operation of business, insolvency and post insolvency.