On 26th March 2015, the Small Business, Enterprise and Employment Act was given royal assent, with the government aiming to reduce red tape and enhance transparency for UK businesses. We run you through some key portions of the act that are soon to come into force.
- Accelerated strike off – The time it takes to strike companies off the register will be reduced.
- Replacement of the ‘consent to act’ procedure – For newly appointed directors and secretaries, a statement will be added by Companies House to the relevant appointment and incorporation forms (paper and electronic) that the person has consented to act in their relevant capacity.
- Date of birth changes – Partial suppression of date of birth on the public register: suppressing the day element for directors.
- Director disputes – A simpler way to get falsely appointed directors’ details removed from the register. Disputes might be made where it is found an appointed director did not consent to act in their appointment.
- Registered office disputes – A new process to provide a remedy where a company is using an address for its registered office but never had authorisation.
- Introduction of People with significant control (PSC) rule – Companies will need to keep a register of people with significant control (‘PSC register’) from this point, in preparation for the need to file this information at Companies House from April 2016.