Lambert Chapman LLP's Nigel Whittle and Tom Maddocks look at some of the Companies Act 2006 changes
From the 1st October 2009, any private company limited by shares will have to submit new statutory forms introduced by the Companies Act 2006.
The main changes relate to Directors personal addresses and Statements of Capital.
Directors Addresses - increased privacy
When filing Annual Returns and other forms that relate to Directors information, more choice is available on the address to be disclosed at Companies House. Directors no longer need to publish their residential address at Companies House, but instead can submit the company's principal place of activity, the registered address or any other address where they can be contacted.
On the Annual Return both the address the Director chooses to be published at Companies House (the "Service Address") and their residential address need to be included on the form. However, the pages which include their residential address (where an alternative Service address has been used) will not be published at Companies House for anyone to see. This information will now only be available to prescribed regulatory authorities such as the Police, HM Revenue and Customs and on some occasions Credit Reference Agencies.
Directors who are very sensitive about having their private address at Companies House prior to the Companies Act 2006 being implemented can also request to have previously filed address information removed for a fee.
Statement of Capital - additional information
Any form that relates to the Share Capital of a Limited Company, such as the new form SH01 which is required for submission for an allotment of shares, will need to include four prescribed particulars of rights attached to each share type held by the Company. These are;
This information can usually be found in the Company's Articles. These paragraphs can be used and simplified for use on the forms to be submitted at Companies House. Each Company has it's own specific Articles and could therefore attach unique rights in relation to share types. Care will be needed when submitting forms to Companies House to ensure accurate information is published.
The Annual Return now requires information on a share's voting rights to be stated.
All information must be presented on the new forms from the 1st October 2009, otherwise the documentation will be rejected.
If you require any assistance regarding the above changes please do not hesitate to contact Nigel or Tom Maddocks on 01376 326266 or your local Lambert Chapman LLP contact.
Date:11 November 2009
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