Law review slips from agenda
Accountants are urging the government not to let the modernisation of company law slip down its legislative agenda.
It was expected that a new company law bill would become law in 2003, but the government’s agenda is now so full many fear it could be delayed.
There are also concerns that the government will ‘cherry-pick’ the review’s recommendations, published in July last year, to get them into law quickly.
A source close to the consultation process told Accountancy Age: ‘They can’t take it apart. We’re trying to replace the patchwork of law that we have. In substance it should implement all the recommendations as a whole.’
A company law expert at the Department of Trade and Industry said the next step would be to get a slot in the Queen’s speech in the autumn, but this was not yet guaranteed.