The Companies Act 2006 is, at 761 pages, the longest Act of Parliament in British history and was only fully implemented in October. However, changes are already afoot! Apparently, the sections of the Act which require disclosure of share capital (the ‘statement of capital’ in the Act) have been recognised as being too difficult for some companies to comply with – so a consultation exercise has been launched by the Department for Business, Innovation and Skills (BIS) to consider how the Act may be revised.
More details can be found on the BIS website.
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Companies Act Changes Afoot
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