• Every company must have at least one director who is a ‘natural person’ i.e. companies where the directors are exclusively other companies ( not uncommon for subsidiaries) must appoint at least one individual as a director. There is a concession allowing companies without a natural person as a director on 8 November 2006 to delay compliance until 1 October 2010.
• Substantial changes are made relating to a director’s duties with regard to avoidance of conflicts of interest. These are contained in Chapter 2 of Part 10 of the Act and are important enough to be recommended reading for all company directors.
• An objection to a company name may be made if it is sufficiently similar to another name owned by the objector and compromises their goodwill. 
• New regulations requiring companies to display specified information at their trading premises and on documents or communications.
   

Failure to comply with the new requirements may leave the company and/or its directors liable to a fine. We can help you make sure your company complies with the Companies Act and other legislation and can advise directors on their rights and responsibilities. For further information company law contact Alan Jenner on Alan.Jenner@bishopslaw.com or 01722 422300