Changes To Company Law

A number of changes to UK company law are being introduced as a result of the Small Business, Enterprise and Employment Act 2015.  Some are intended to increase transparency and trust in the UK business environment as part of the global agenda to tackle issues such as tax evasion, money laundering and terrorist financing.  Others are measures to simplify company filing requirements in response to the Government's Red Tape Challenge.

The changes range from minor administrative matters to some that will have significant implications for many companies.

Abolition of bearer shares – now in force

It is no longer possible for a company to issue bearer shares, where details of the holder are not entered in the company's register of members and the shares are transferred by delivery of a warrant representing the shares.