ARTICLE · 01 JUNE 2007

CompAct - Q&As On The 2006 Companies Act

Deloitte

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Almost ten years ago the Government decided that the time had come to embark on a fundamental review of the framework of company law. The object of the review was to put forward proposals for a modern law for the modern world which would promote the competitiveness of UK companies.

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Deloitte Audit Group

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The Questions

Directors

1. There is now a minimum age for appointment as a director, but is there a maximum age?

2. What has to be included within the Register of Directors?

3. Are directors’ residential addresses now protected from disclosure?

4. Within what timeframe does the Registrar of Companies have to be notified of any details contained in the Register of Directors?

5. Can a director be removed and are there any rights to protest against removal?

6. What are the directors’ duties under the new Companies Act?

7. A director has an interest in an existing transaction with the company: does the director have to declare it?

8. Is it possible for a director to have a service contract exceeding two years?

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