Reform of Companies House

The Economic Crime and Corporate Transparency Bill (ECCT Bill), first laid in Parliament in September 2022, has now gone to the House of Lords for consideration. The ECCT Bill contains, among other things, draft amendments to the Companies Act 2006 to facilitate the reform of Companies House. The ECCT Bill follows an initial consultation in 2019, three … Read more

Half-yearly corporate update – our latest briefing

We have published our half-yearly update briefing which summarises the major developments in UK corporate law and regulation that have occurred over the last six months, that is from July to December 2022, and which are of relevance to UK listed companies. The briefing is available here. Read more

Preparing your annual report and AGM notice in 2023

A key focus for many UK listed companies at this time of year is finalising their annual report and preparing for their annual general meeting. This snapshot considers developments and issues arising in practice over the last 12 months which impact on the 2022 annual report and the AGM in 2023. The most significant development for companies … Read more

Register of overseas entities – updated guidance and transition period coming to an end

The Department for Business, Energy and Industrial Strategy has published updated guidance for the registration and verification of information on the register of overseas entities under the Economic Crime Act 2022 (ECA). The new register of overseas entities owning UK property, introduced by the ECA and operated by Companies House, came into effect on 1 August 2022. The ECA … Read more

New guidelines on disapplying pre-emption rights

The Pre-Emption Group (PEG) has published a revised Statement of Principles for the disapplication of pre-emption rights, along with new template resolutions. PEG is the group that represents listed companies, investors and intermediaries, and issues best practice guidance and documents for companies’ annual resolutions to disapply pre-emption rights. The revised Principles implement one of the recommendations of … Read more

Economic Crime Act 2022 – commencement of further provisions relating to the new register of overseas entities owning UK property

Regulations have been made commencing the remaining provisions of the Economic Crime (Transparency and Enforcement) Act 2022 (ECA) relating to the new register of overseas entities owning UK property. The new register of overseas entities owning UK property, introduced by the ECA and operated by Companies House, came into effect on 1 August 2022. The ECA requires overseas entities that … Read more

Supreme Court ruling on duty to creditors

The Supreme Court has published its long-awaited judgment in BTI 2014 LLC v Sequana SA and others ([2022] UKSC 25) which discusses when directors of a company in financial difficulties should consider the interests of the company’s creditors. The majority in the Supreme Court has: affirmed the existence of the duty to consider the interests of creditors; … Read more

Reform of Companies House

The Government has laid the Economic Crime and Corporate Transparency Bill (ECCT Bill) in Parliament which contains, among other things, draft amendments to the Companies Act 2006 to facilitate the reform of Companies House. The ECCT Bill follows an initial consultation in 2019, three follow-up consultations in 2020 and the white paper containing the Government’s … Read more