Companies Act is delayed and provisions to Companies House won’t come into force until 2009

7th November 2007

The introduction of some of the remaining provisions of the Companies Act 2006 has been delayed by the Government, as necessary changes need to be implemented to the Companies House systems and processes before the final provisions of the Act can be put into force.

The Companies Act 2006 is the biggest piece of legislation that Parliament has ever passed and is one of the most significant changes to company law in the last twenty years. When implemented, it will affect most aspects of how a company is run. The Companies Act 2006 will introduce many reforms that will affect everyone within companies – from company directors and secretaries to shareholders.

As there are many changes outlined in the Act, the aspects that relate to Companies House were originally scheduled to come into force on 1st October 2008. However the Competitiveness Minister, Stephen Timms, has said that it will be delayed until 1st October 2009. The BERR (Department for Business Enterprise and Regulatory Reform) have voiced concerns over this, saying that although the delay is limited to those provisions relating to Companies House, the delay could spill into other areas and have therefore decided to see whether it is possible to have some of the provisions come into force on 1st October 2008.

Mr Timms has said that:

“The new Companies Act is designed to help secure Britain's position as a place where business can prosper, by creating the right conditions for business success in a world economy characterised by fierce international competition”

He has also said that some aspects of the Act have already come into force and that businesses are already seeing the benefits of it.

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