Company Law Club Newsletter 2007-04
1. Companies Act 2006 - Article 2
This has now been published in the legal database. Details below. Also see below
for other Companies Act 2006 material
2. Statutory Instruments
The following new statutory instruments have been passed and added to the CLC
database
The Companies (EEA State)
Regulations 2007/732
The Company and Business
Names (Amendment) Regulations 2007/1947
The Companies (Political
Expenditure Exemption) Order 2007/2081
The Companies (Interest
Rate for Unauthorised Political Donation or Expenditure) Regulations 2007/2242
The Companies Act 2006
(Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings)
Order 2007
The Companies Act 2006
(Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings)
Order 2007/2194
The Limited Liability
Partnerships (Amendment) Regulations 2007/2073
The Insolvency (Amendment)
Rules 2007/1974
The Trade Marks (Relative
Grounds) Order 2007/1976
The Trade Marks (Amendment)
Rules 2007/2076
The Trade Marks (Fees)
(Amendment) Rules 2007/2077
For an explanation of these and other statutory instruments click
here.
Companies Act 2006, Article 2 (parts 8, 9 and
10)
(Parts 1 - 7 were covered in Article 1)
This is the second of a series of articles about the new Act, giving an account
of Parts 8 9, and 10. It does not claim to be a comprehensive account of all
the legislative provisions, but highlights those areas where the law has changed.
It also emphasises the areas that are of practical concern to those who run
owner-managed companies, and their advisors. Some areas, judged to be primarily
of academic interest or concerning only public, and especially listed, companies
will not receive detailed treatment.
The areas covered are:
Part 8: A company's members
The members of a company (sec112)
Register of members (sec113 - sec128)
Prohibition on subsidiary being member of its holding company (sec136 - sec144)
Part 9. Exercise of members' rights (sec145 - sec153)
Exercise of rights where shares held on behalf of others (sec152 - sec153)
Part 10. Directors (sec154 - sec259)
Requirement to have directors (sec154 - sec161)
Under age directors
Register of directors, etc (sec162 - sec167)
Protection from disclosure of residential addresses (sec240 - sec246)
Removal of a director (sec168 - sec169)
Directors' general duties (sec170 - sec181)
Declaration of interest in existing transaction or arrangement (sec182-sec187)
Approval of directors' service contracts (sec188)
Substantial property transactions (sec190 - sec196)
Loans, quasi-loans and credit transactions to directors, etc. (sec197 - sec214)
Payments for loss of office (sec215 - sec222)
Disclosure of directors' service contracts (sec227 - sec230)
Contracts with sole members who are directors (sec231)
Provisions exempting directors from liability and indemnities (sec232 - sec238)
Ratification of acts giving rise to directors' liability (sec239)
Provision for employees on cessation or transfer of business (sec247)
Records of meetings of directors (sec248)
Definitions
Other material on the Companies Act 2006 includes
First Company Law Club Article (the first 7 parts
of the Companies Act 2006)
Second Company Law Club Article (Parts 8,9
& 10 of the Companies Act 2006)
Text of the Act on IPSO website
Provisions already implemented at April 2007
Provisions implemented in October 2007
Proposed timetable for implementation
A list of all parts and chapters
Company Law Club new legislation section (for
commencement orders, etc)
DTI
website
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