Short Title of the Bill Reform company law and restate the greater part of the enactments relating to companies; to make other provision relating to companies and other forms of business organisation; to make provision about business names, auditors and actuaries; to amend Part 9 of the Enterprise Act 2002; and for connected purposes.
Extract from Explanatory Note produced by Government Department The UK was one of the first nations to establish rules for the operation of companies. Today our system of company law and corporate governance, setting out the legal basis on which companies are formed and run, is a vital part of the legal framework within which business is conducted. As the business environment evolves, there is a risk that the legal framework can become gradually divorced from the needs of companies, in particular the needs of smaller private businesses, creating obstacles to ways that companies want and need to operate. (Source: Explanatory Note Bill 190- EN)
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