Almost 800 sections of the Companies Act 2006 are now in force. 2009 will see the coming into force of the remaining 500 or so sections and the repeal of the equivalent sections of the Companies Act 1985.
The 2009 timetable
There are two key dates:
- 3 August 2009: The Companies (Shareholders' Rights) Regulations 2009 will come into force. These Regulations will make some changes to current rules on shareholder meetings in Part 13 of the 2006 Act (which is already in force). The changes will mainly affect listed company meetings, though some of the changes will apply to all UK company meetings.
- 1 October 2009: The Companies Act 2006 (Commencement No. 8, Transitional Provisions and Savings) Order 2008 will bring into force all those sections of the 2006 Act not currently in force and repeal the equivalent sections of the 1985 Act.
Key implementation areas
The key areas of the 2006 Act which will come into force on 1 October relate to:
- company formation and re-registration;
- constitution and corporate capacity (except as already in force on execution of documents);
- company names (except as already in force on company names adjudicators);
- registered office;
- membership and share capital (except as already in force for private companies on financial assistance and reductions of capital without a court order);
- registers of directors and secretaries and service addresses;
- annual returns;
- company charges;
- overseas companies;
- dissolution and restoration to the Register;
- Registrar of Companies.
In future issues of this bulletin we will look at the key changes which the 2006 Act will make in these areas.