New Companies Bill receives Royal Assent. By Nichola Ross Martin
The new Companies Bill received Royal Assent last week. Aside from being massive in size, it introduces sweeping changes to simplify and improve company law. The 1985 and 1989 Companies Acts, and the 2004 Companies (Audit, Investigations and Continuity Enterprise) Act have been substantially rewritten to make it easier to understand and more flexible - especially for small businesses.
Trade secretary Alistair Darling said: "This Act will help ensure Britain remains one of the best places in the world to set up and run a business.