Register of directors’ residential addresses definition

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Reviewing board minutes—checklist

Reviewing board minutes—checklist STOP PRESS: The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) received Royal Assent on 26 October 2023. ECCTA 2023, Pt 1 contains a substantive package of proposals enhancing the role of Companies House and increasing the transparency of UK corporate entities. The provisions of the ECCTA 2023 come into force over an extended period. Many of the provisions in the legislation require detailed secondary legislation and guidance, and the construction of new technical processes and tools to implement the reforms. For more information, see Practice Notes: The Economic Crime and Corporate Transparency Act 2023—what Banking & Finance lawyers need to know, The Economic Crime and Corporate Transparency Act 2023—tracker and Corporate transparency reform—changes to company registers. Board minutes As part of the pre-completion process and satisfaction of the conditions precedent, lawyers acting for a lender in a typical financial transaction need to review the board minutes of the borrower, guarantor and any security provider. Following a board meeting of a company, the directors must...

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Serving documents under the Companies Act 2006

Serving documents under the Companies Act 2006 This Practice Note considers service of documents under the Companies Act 2006, as an alternative to serving documents under the provisions in Part 6 of the Civil Procedure Rules (CPR 6). The Practice Note considers the requirements for a service address, the application of the provisions in the act for service on a company (section 1139 of the Companies Act 2006 (CA 2006)) or on the directors, company secretary and others (CA 2006, s 1140). It also considers service on overseas companies as well as service on a limited liability company under the Limited Liability Partnerships (Application Of Companies Act 2006) Regulations 2009, SI 2009/1804 which makes modifications to CA 2006. Practical consideration: the service provisions in the CA 2006 apply whatever the purpose of the document ie irrespective of whether the document to be served is in relation to the director’s office or in connection with the related company, as confirmed in Key Homes Bradford v Patel (2014). Parallel regimes in the CPR and...

The Economic Crime and Corporate Transparency Act 2023—what Banking & Finance lawyers need to know

The Economic Crime and Corporate Transparency Act 2023—what Banking & Finance lawyers need to know The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) received Royal Assent on 26 October 2023. It seeks to deliver a wide range of reforms and enhancements relating to corporate transparency and the integrity of information held at Companies House. It is intended that the provisions of ECCTA 2023 will come into force over an extended period of time, allowing Companies House as well as companies themselves time to prepare. Many of the provisions will require detailed secondary legislation and guidance to implement the reforms. Some key areas of legislation under ECCTA 2023 were introduced on 4 March 2024. Other measures in the Act, such as identity verification and accounts reform, will be introduced over a longer period.  Companies House has published a number of factsheets giving details of the different measures contained in ECCTA 2023. For more information on the legislative implementation timings being introduced by ECCTA 2023 generally, see Economic...