The final implementation phase of the Companies Act 2006 (the
"Act") takes place on 1st October this
year.
The provisions being introduced in October make substantial
changes to the presentation and contents of a company's
Memorandum and Articles of Association as well as further
deregulation of certain areas of company law. Now is the logical
time for clients to review their existing memorandum and articles
to take advantage of the relaxations brought in by the Act. Brief
details of the key changes which will come into effect on
1st October this year are set out below:
Objects Clause
From 1st October 2009 existing companies' objects
clause will become part of the articles of association, rather than
the memorandum. No filing needs to take place for this to happen.
As a result companies may now choose to remove the objects clause
in its entirety in order to have unlimited objects. The memorandum
of association of companies incorporated on or after 1st
October
