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Session 2005 - 06
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Other Bills before Parliament

Company Law Reform Bill [HL] (l-lvi)


Company Law Reform Bill [HL] (changed to Companies Bill [HL])

l

 

Part 38

Companies: interpretation

Meaning of "subsidiary" and related expressions

1124   

Meaning of “subsidiary” etc

1125   

Meaning of “subsidiary” etc: power to amend

Meaning of "undertaking" and related expressions

1126   

Meaning of “undertaking” and related expressions

1127   

Parent and subsidiary undertakings

Other definitions

1128   

Meaning of “banking company” and “banking group”

1129   

Meaning of “insurance company” and related expressions

1130   

“Employees’ share scheme”

1131   

Meaning of “prescribed”

1132   

Hard copy and electronic form and related expressions

1133   

Classes of shares

1134   

Dormant companies

1135   

Meaning of “EEA State” and related expressions

1136   

The former Companies Acts

General

1137   

References to requirements of this Act

1138   

Minor definitions: general

1139   

Index of defined expressions

Part 39

Companies: minor amendments

1140   

Power of Secretary of State to bring civil proceedings on company’s behalf

1141   

Repeal of certain provisions about company directors

1142   

Repeal of requirement that certain companies publish periodical statement

1143   

Repeal of requirement that Secretary of State prepare annual report

1144   

Repeal of certain provisions about company charges

1145   

Access to constitutional documents of RTE and RTM companies

Part 40

Company directors: foreign disqualification etc

Introductory

1146   

Persons subject to foreign restrictions

1147   

Meaning of “the court” and “UK company”

 
 

Company Law Reform Bill [HL] (changed to Companies Bill [HL])

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Power to disqualify

1148   

Disqualification of persons subject to foreign restrictions

1149   

Disqualification regulations: supplementary

1150   

Offence of breach of disqualification

Power to make persons liable for company’s debts

1151   

Personal liability for debts of company

Power to require statements to be sent to the registrar of companies

1152   

Statements from persons subject to foreign restrictions

1153   

Statements from persons disqualified

1154   

Statements: whether to be made public

1155   

Offences

Part 41

Business names

Chapter 1

Restricted or prohibited names

Introductory

1156   

Application of this Chapter

Sensitive words or expressions

1157   

Name suggesting connection with government or public authority

1158   

Other sensitive words or expressions

1159   

Requirement to seek comments of government department or other relevant

body

1160   

Withdrawal of Secretary of State’s approval

Misleading names

1161   

Name containing inappropriate indication of company type or legal form

1162   

Name giving misleading indication of activities

Supplementary

1163   

Savings for existing lawful business names

Chapter 2

Disclosure required in case of individual or partnership

Introductory

1164   

Application of this Chapter

1165   

Information required to be disclosed

 
 

Company Law Reform Bill [HL] (changed to Companies Bill [HL])

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Disclosure requirements

1166   

Disclosure required: business documents etc

1167   

Exemption for large partnerships if certain conditions met

1168   

Disclosure required: business premises

Consequences of failure to make required disclosure

1169   

Criminal consequences of failure to make required disclosure

1170   

Civil consequences of failure to make required disclosure

Chapter 3

Supplementary

1171   

Application of general provisions about offences

1172   

Interpretation

Part 42

Statutory Auditors

Chapter 1

Introductory

1173   

Main purposes of Part

1174   

Meaning of “statutory auditor” etc

1175   

Eligibility for appointment as a statutory auditor: overview

Chapter 2

Individuals and firms

Eligibility for appointment

1176   

Individuals and firms: eligibility for appointment as a statutory auditor

1177   

Effect of ineligibility

Independence requirement

1178   

Independence requirement

1179   

Effect of lack of independence

Effect of appointment of a partnership

1180   

Effect of appointment of a partnership

Supervisory bodies

1181   

Supervisory bodies

1182   

Exemption from liability for damages

 
 

Company Law Reform Bill [HL] (changed to Companies Bill [HL])

liii

 

Professional qualifications

1183   

Appropriate qualifications

1184   

Qualifying bodies and recognised professional qualifications

1185   

Approval of overseas qualifications

1186   

Eligibility of individuals retaining only 1967 Act authorisation

Information

1187   

Matters to be notified to the Secretary of State

1188   

The Secretary of State’s power to call for information

Enforcement

1189   

Compliance orders

Chapter 3

Auditors General

Eligibility for appointment

1190   

Auditors General: eligibility for appointment as a statutory auditor

Conduct of audits

1191   

Individuals responsible for audit work on behalf of Auditors General

The Independent Supervisor

1192   

Appointment of the Independent Supervisor

Supervision of Auditors General

1193   

Supervision of Auditors General by the Independent Supervisor

1194   

Duties of Auditors General in relation to supervision arrangements

Reporting requirement

1195   

Reports by the Independent Supervisor

Information

1196   

Matters to be notified to the Independent Supervisor

1197   

The Independent Supervisor’s power to call for information

Enforcement

1198   

Suspension notices

1199   

Effect of suspension notices

1200   

Compliance orders

Proceedings

1201   

Proceedings involving the Independent Supervisor

 
 

Company Law Reform Bill [HL] (changed to Companies Bill [HL])

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Grants

1202   

Grants to the Independent Supervisor

Chapter 4

The register of auditors etc

1203   

The register of auditors

1204   

Information to be made available to public

Chapter 5

Registered third country auditors

Introductory

1205   

Meaning of “third country auditor”, “registered third country auditor” etc

Duties

1206   

Duties of registered third country auditors

Information

1207   

Matters to be notified to the Secretary of State

1208   

The Secretary of State’s power to call for information

Enforcement

1209   

Compliance orders

1210   

Removal of third country auditors from the register of auditors

1211   

Grants to bodies concerned with arrangements under Schedule 12

Chapter 6

Supplementary and general

Power to require second company audit

1212   

Secretary of State’s power to require second audit of a company

1213   

Supplementary provision about second audits

False and misleading statements

1214   

Misleading, false and deceptive statements

Fees

1215   

Fees

Delegation of Secretary of State’s functions

1216   

Delegation of the Secretary of State’s functions

1217   

Delegation of functions to an existing body

 
 

Company Law Reform Bill [HL] (changed to Companies Bill [HL])

lv

 

International obligations

1218   

Directions to comply with international obligations

General provision relating to offences

1219   

Offences by bodies corporate, partnerships and unincorporated associations

1220   

Time limits for prosecution of offences

1221   

Jurisdiction and procedure in respect of offences

Notices etc

1222   

Service of notices

1223   

Documents in electronic form

Interpretation

1224   

Meaning of “associate”

1225   

Minor definitions

1226   

Index of defined expressions

Miscellaneous and general

1227   

Power to make provision in consequence of changes affecting accountancy

bodies

1228   

Consequential amendments

Part 43

Transparency obligations and related matters

Introductory

1229   

The transparency obligations directive

Transparency obligations

1230   

Transparency rules

1231   

Competent authority’s power to call for information

1232   

Powers exercisable in case of infringement of transparency obligation

Other matters

1233   

Corporate governance rules

1234   

Liability for false or misleading statements in certain publications

1235   

Exercise of powers where UK is host member state

1236   

Transparency obligations and related matters: minor and consequential

amendments

1237   

Corporate governance regulations

 
 

Company Law Reform Bill [HL] (changed to Companies Bill [HL])

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Part 44

Miscellaneous provisions

Regulation of actuaries etc

1238   

Grants to bodies concerned with actuarial standards etc

1239   

Levy to pay expenses of bodies concerned with actuarial standards etc

1240   

Application of provisions to Scotland and Northern Ireland

Information as to exercise of voting rights by institutional investors

1241   

Power to require information about exercise of voting rights

1242   

Institutions to which information provisions apply

1243   

Shares to which information provisions apply

1244   

Obligations with respect to provision of information

Disclosure of information under the Enterprise Act 2002

1245   

Disclosure of information under the Enterprise Act 2002

Expenses of winding up

1246   

Payment of expenses of winding up

Commonhold associations

1247   

Amendment of memorandum or articles of commonhold association

Part 45

Northern Ireland

1248   

Extension of Companies Acts to Northern Ireland

1249   

Extension of GB enactments relating to SEs

1250   

Extension of GB enactments relating to certain other forms of business

organisation

1251   

Extension of enactments relating to business names

Part 46

General supplementary provisions

Regulations and orders

1252   

Regulations and orders: statutory instrument

1253   

Regulations and orders: negative resolution procedure

1254   

Regulations and orders: affirmative resolution procedure

1255   

Regulations and orders: approval after being made

1256   

Regulations and orders: supplementary

Meaning of "enactment"

1257   

Meaning of “enactment”

 
 

 
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Revised 28 July 2006