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Mon 19th November 2007
Delay in implementation of Companies Act 2006

The Government announced on 7 November 2007 a surprise change to the implementation timetable for the Companies Act 2006.

Due to concerns that Companies House may not be ready to fully implement the new Act by 1 October 2008, the full implementation of the 2006 Act will be put back until 1 October 2009. This announcement only affects changes due to come into force in October 2008 and those changes due in April 2008 (including abolition of the requirement for a private company to appoint a secretary) should still take place as planned.

It is not yet clear whether all the October 2008 changes will be postponed and the Government has promised a definitive statement in December.

It is still possible that some of the key changes which do not impose significant burdens on Companies House may be commenced on schedule next October. These include the abolition of the restriction on financial assistance for private companies and new rules on conflicts of interest for directors. These are areas where continued delay will no doubt lead to additional costs for businesses so it is hoped that as little as possible will be postponed. The Government is consulting on these areas and will confirm the position in December.

What is certainly clear is that some core provisions, including those relating to the formation of new companies, share capital and new model articles of association, will not be in force until October 2009.

To find out how the Commercial Team at Park Woodfine Heald Mellows can help you please click here, or contact them directly by clicking here.

 

 

Park Woodfine Heald Mellows LLP

Park Woodfine Heald Mellows (PWHM) LLP was established in March 2007, a merger of Park Woodfine and Heald Mellows law firms.  Both firms were most recently based in the Bedford and Northamptonshire areas. 

Heald has existed in various forms since 1800.  Park Woodfine was established in 1966 and rapidly grew into one of the leading law firms in Bedfordshire and South Northamptonshire.

In 2004, Heald merged with Mellows of Bedford in June, with the addition of two partners and other staff. The Bedford office was subsequently known as 'Heald Mellows solicitors' to reflect the merger.

Park Woodfine became Park Woodfine LLP on 1st April 2006, retaining "Park Woodfine" as its trading name and in July 2006, Heald became Heald Mellows Solicitors a limited liability partnership based in Bedford.

At PWHM there are currently 10 Partners, 24 fee earners and a total staff in excess of 90. There is a good balance between maturity and youth within the firm.

PWHM have teams specialising in: Commercial Law, Family Law, Charity Law, Wills, Trusts and Probate Law, Property Law, Personal Injury Law, and Medical Accident Law. 

For further information, please contact:

Paul J Westerman, Head of Marketing

Park Woodfine Heald Mellows LLP

Tel: 01234 400 000

Email: pwesterman@pwhmllp.com

web: www.pwhmllp.com