The main effect of the 1 October 2009 changes will undoubtedly be the impact the new Act will have on a company’s constitution. Companies may wish to alter their articles of association in order to take advantage of various new powers granted by CA 2006. Conversely, restrictions may need to be added where wider powers given to directors are not palatable to shareholders. It is important to understand the effect that the changes may have on a company's ability to manage its business.
- Review your company's memorandum to identify the provisions that will be deemed to be written into your articles from 1 October 2009 and assemble the company's post 1 October 2009 constitution for future reference.
- Consider amending your articles to include or remove the transferred provisions and generally to bring them up-to-date and in line with CA 2006.
- Ensure that you have the necessary Registers of Directors in place and consider notifying service addresses for directors.
- Ensure that you are in a position to supply a statement of capital on request.
Help is available, so please contact us for advice.