It is four years now since Margaret Beckett launched an independent review of company law in 1998. The three-year independent review revealed its findings in July 2001 and the White Paper, for the most part, has taken on board the independent steering group’s recommendations.
But the White Paper is just the beginning of a further round of consultations and debates before the UK gets a set of company laws that remotely reflects business in the 21st century.
Two more rounds of consultation have to be undertaken before a bill is produced. Competition minister Melanie Johnson said, when she announcing the White Paper: ‘The government does not want to commit itself to a particular timeframe’.
But she did confirm a new company law will materialise ‘during the life of this parliament’.
Scroll down and click on the headlines to follow the developments of the White Paper:
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements