Although the Companies Act 2006 was passed in November 2006 it was only brought into effect on set dates, with final implementation by 1st October 2009 Company information The company number, registered office and country of registration must be stated on websites, order forms, letters and emails. Company Secretary This post is now optional for private companies from 6 April 2008. Directors There is no upper age limit (previously 70), but all Directors must be at least 16. Directors Duties are now written in law. Directors should review their directors' and officers' liability insurance policies. Loans of £10,000 can be made without shareholder approval. Companies will not be allowed to fill the post of sole director, to protect the personal details of the owner of the company. Privacy Directors and Company Secretaries may provide a service address for the publicly available director's address details. Filing Accounts Accounts of accounting periods beginning on or after 6 April 2008 must be filed within 9 months of its accounting year end. For example, accounts to 30 April 2009must be filed by 31 January 2010. Meetings Private companies do not have to hold an AGM unless specifically required to do so by its Articles. Financial Assistance Private companies are able to provide assistance to purchase their own shares. Please contact us for further information and/or visit the following websites:- www.berr.gov.uk/files/file42262.pdf and www.berr.gov.uk/bbf/co-act-2006/index.html |
