The Companies Act 2006 is the largest piece of legislation ever passed by Parliament and radically overhauls the UK's company law regime. Its provisions will continue to be implemented up until October 2009 and there are many practical implications for the way in which private companies are constituted and operate. This course will examine the practical implications for private companies, particularly owner-managed businesses and those operating in the SME sector, and provides an essential guide to all those advising small corporate businesses.
- Issues for shareholders in private companies
- Shareholders' rights under the Companies Act 2006
- Ability to appoint proxies
- Ability to nominate third parties (the new concept of a nominated person)
- The abolition of AGMs
- The new rules on shareholder resolutions
- Electronic communications
- Directors' in private companies
- Who is the director and their powers
- Key changes to the directors' duties regime
- 7 new duties
- Transactions with directors
- Derivative claims and proceedings by shareholders
- The Company Secretary
- The execution of documents
- Key changes for private companies which came into force in October 2008
- The minimum age for appointment of a director
- What to do with existing directors under age
- The new directors' duties: to avoid conflicts and the duty to declare interest in proposed transactions or arrangements
- Declaration of interest in companies with sole directors
- Changes to the financial assistance rules
- Key changes coming into force October 2009
- New Model Articles
- Changes to share capital rules