Companies Act 2006 implementation commences 1 October

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It may have received Royal Assent almost two years ago, but the start of next month will a see a further stage in the implementation of the Companies Act 2006, specifically to changes in the requirements for corporate and underage directors.

Corporate Directors

From 1st October a company will be required to have at least one director who is a natural person / individual. A company can no longer have all corporate directorships.

The only exemption to this is a grace period until October 2010 for any company that had only corporate directors on the 8th November 2006, the day the Companies Act received Royal Assent.

This flexibility has sometimes been abused by those who

wish to conceal who is controlling a company, said BERR, For example those intending to commit fraud may use a company wi...

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