White paper out on company law review
The government is set to reveal a new agenda for company law next week, aimed at removing red tape and saving money.
The long-awaited white paper, the first total overhaul of company law in 150 years, will be unveiled by Melanie Johnson, competition minister, on Tuesday next week.
It is in response to the Company Law Review undertaken by the Department of Trade and Industry and released almost a year ago.
The CLR recommended changes to how small and private companies operate, including the scrapping of AGMs, to ease the burden of decision-making.
It also recommended changes to the way company directors worked and how investors exercised their rights as well as the way companies carried out audits and filed their accounts.
To read a summary of the changes recommended by the Company Law Review follow this link.