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The Companies Act 2006What is it? CBI position Related policy documents Further information What is it?The Companies Act 2006 revises and consolidates UK company law, following the recommendations of the Company Law Review, which reported on the modernisation of UK company law in 2001.The key areas covered by the act are:
CBI positionWe support the vast majority of the act’s provisions, aimed at the modernisation of UK company law to make it more accessible, and less bureaucratic and costly, for all types and sizes of company, and their directors and shareholders, based on the Think small first approach.We also support codification of the existing duties for directors, but no extension beyond the 'enlightened shareholder approach', under which the directors’ obligations are owed to the company on behalf of the shareholders, while recognising that it is also in shareholders’ interests for the directors to have regard to the interests of the company’s other stakeholders, the employees, customers and suppliers, and the community in which the business operates. Related policy documentsRead all official responses and briefing documents relating to the Companies Bill and Companies Act.Further informationMore details of the bill can be found on the BERR website or the UK Parliament website.Details of the Company Law Review can also be be found on the BERR website. |
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