Q. When will the Companies Act 2006 come into force?
A. The Act will not be fully implemented until October 2009, however there will be earlier implementations in April 2007, October 2007 and April 2008. Details can be found on the Department for Business, Enterprise and Regulatory Reform and Companies House websites.
Q. Will there be a notice period following changes made in the Companies Act 2006?
A. Companies House intends to give all companies, directors and customers notice prior to any changes being implemented. The Companies House website will be updated with news regarding changes and implementation timescales.
Q. Will the changes come into effect gradually and when are they to take effect in 2008?
A. Many of the changes will come into force on 1st October 2009, but some will have transitional arrangements. These transitional arrangements are still being discussed and when they are decided they will be communicated to customers.
Q. What Companies House changes were introduced in April 2007?
A. From 6th April 2007 the following changes came into force:
Removal of the maximum age limit (was 70) for directors of PLC'��s
Directors no longer need to provide details of their interests in shares or debentures of the company or its group. The result is that Companies House no longer accept Form 325 (Location of Register of director'��s interests in shares), or Form 325a (Notice for inspection of a register of directors interests in shares kept in a non-legible format).
There will no longer be a statutory annual report by the Secretary of State to Parliament (the 'Companies In' report) but BERR will continue to produce the information.
Directors are not required to disclose their interests in shares in the Directors report of the Annual Accounts for reports signed on or after 6 April.
Takeover forms have been replaced with forms that align with the clauses of the new Act: 429(4) Notice of non-assenting shareholders will become Form 980(1); 429dec Statutory Declaration relating to a Notice to non-assenting shares will become Form 980(dec); 430A Notice to non-assenting shareholders will become Form 984.
Q. Will transitional timetables be issued?
A. Transitional provisions are being included in the Commencement Orders. However, this does not mean that there will not be separate provisions at a later date.