Companies Act 2006 - Changes To The Statutory Registers Required To Be Kept By Companies
Friday, August 17, 2007
by
Catherine Feechan and David Gilchrist
The Register of Directors
The company must still keep a register of directors at the registered office. Arrangements may be made for this to be at a place other than the registered office. The Registrar of Companies must be notified if it is not at the registered office or is moved. A prescribed fee may be charged for inspection of the register by someone other than a member.
The information to be included for each director is:
- name;
- any former name (which is any name formerly known by for business purposes which can include a married woman’s maiden name) (presently it is any former name whether a business name or not, but not a maiden name);
- a service address which can be the company registered office. There is no requirement for a residential address in the register, although the service address can be a residential address but this will not be clear on the face of the register;
- the country or state or part of the UK where the director resides;
- nationality, date of birth and business occupation (if any).
There is no need for a list of present and past directorships. It is to be expected that many directors will take advantage of the right to exclude their home addresses from the register.
Register of Directors Residential Addresses
From 1st October 2008, companies will need to keep a separate register of directors residential addresses which is not open to public inspection.
Register of Directors Interests
The need to keep a register of directors interest was repealed with effect from 6 April 2007. Where the company’s shares are traded on a regulated market, which includes AIM companies, they will however have to comply with the provisions of the Disclosure and Transparency Rules which require announcement of holdings and dealings of directors.
Register of Secretaries
From 6th April 2008, this will no longer be required for private companies even if the company has a secretary.
Register of Charges
This is still required and must show the date of execution and registration of the charge, who it is in favour of and the subjects charged.
It is important that all board members and office holders are made aware of these changes. Biggart Baillie LLP would be pleased to provide you with any further advice you require in relation to directors duties under the new Act, or on other aspects of the new legislation. If you are interested in any particular areas - please click here
The information contained in this article is given for general information only and does not constitute legal advice on any specific matter.