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ARTICLE · 28 OCTOBER 2016

Company Procedure Update

Wedlake Bell LLP
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In the last few In Counsel updates we have repeatedly raised the changes to company law brought about by the new register of people with significant control (PSC Register) which came into force on 6 April 2016.

United KingdomCorporate/Commercial Law
Edward Craft
Edward Craft

In the last few In Counsel updates we have repeatedly raised the changes to company law brought about by the new register of people with significant control (PSC Register) which came into force on 6 April 2016. However, the PSC Register regime is not the only change to the Companies Act 2006 brought about by the Small Business, Enterprise and Employment Act 2015. This note summarises two salient points.

Confirmation statements

With effect from 30 June 2016, the annual return has been replaced by a confirmation statement.

In a manner not dissimilar to the statement of capital brought about in 2006, a company can file a confirmation statement at any time and must do so within 14 days (previously 28 days) after the end of each review period. So, a worked example:

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