Company News

Bucks Business People get the lowdown on the Companies Act

Over 40 local business leaders were given a full briefing on the new Companies Act in a recent seminar jointly hosted by Fish Partnership, solicitors Reynolds Parry Jones, and The Royal Bank of Scotland (RBS).

Guy Birkby, Director, RBS Commercial Banking in High Wycombe, chaired the proceedings, which were held at Beaconsfield’s Bellhouse Hotel. During the session, delegates received advice and guidance on the new legislation and its effect on the structure and reporting required of limited companies.

The Act is the longest ever statute passed by Parliament and makes major changes to the required legal structure of companies, the filing of accounts and the duties and responsibilities of company directors.

Martin Sheehy of the Fish Partnership informed delegates of the new procedures required when auditing and reporting on financial affairs. Tony Hatton and Carl Selby of Reynolds Parry Jones covered the legal issues and in particular the new duties of directors.

Due to the phased introduction of the new provisions, the business community has experienced some difficulty in understanding the implications for their business. Despite the Act receiving royal assent in November 2006, the provisions will become law over a two year period. Indeed, the first provisions came into effect in April 2007 and the final ones will not become law until October 2009.

Interested business people who were unable to attend the seminar are welcome to receive a full package of the printed materials handed out to delegates. Please email Carl Selby on carl.selby@rpj.uk.com or Martin Sheehy on martins@fishpartnership.co.uk.

For more information please contact Fish Partnership on 01628 527956.

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