The new Charities Governance Code was published on 7th November 2018. The Code sets out the minimum standards Charities should meet to effectively manage and control their charity. The purpose is to help charities to meet their legal obligations under the Charities Act 2009. This is something many charities struggle. The Code is written with
Beneficial Ownership Regulations Passed The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 (the “2019 Regulations”) were passed on 22nd March 2019. The 2016 Regulations that came into force on 15 November 2016 have been revoked and replaced by the 2019 Regulations. Key Features of the Regulations The Regulations require corporate or
Every January we set out ten points to consider from a company law and company secretarial practice perspective. These are practical points for all firms to consider that may bring some benefit to the services you provide. As always if we can be of any help please feel free to contact any one of the
Transfer of shares is where an existing holder of share(s) transfers some or all of their shares to another shareholder or to a third party. Subject to any restrictions in the company’s constitution, a member may transfer all or any of his or her shares in the company by a stock transfer form or any
An essential requirement in keeping a company compliant with company law is annual company secretarial compliance Insert Link. This service is often provided by the accountant or solicitor and it is vital that the firm has the necessary process and procedures in place to ensure they provide this service to their clients.
Part 20 of the Companies Act 2014 provides for the re-registration from one company type to another. The Act has lessen the restrictions on re-registration and the amount of times a company can re-register. An LTD may re-register as a CLG and vice versa for first time which was not provided for under the old Companies Act. An LTD cannot have paid up share capital or requires order from the High Court.
A company may acquire its own shares from an existing shareholder by purchase, or in the case of redeemable shares, by redemption or purchase. A company may redeem or buyback its shares to one issued share and the 10% rule that was in the old Companies Act no longer applies.
The introduction of group audit exemption and the return to economic activity and company restructuring has led to an increase in group structures being created. More companies are being set up using personal holding companies or company restructuring or succession planning are all leading to an increase in the creation of groups. The Companies Act 2014 defines what a group is and we will examine one of the common ways of creating a group using a Golden Share.
A company may allot new shares to the existing shareholders or to a third party. These shares can be from the existing share class or by creating a new share class.
CRO got a reaction they were probably hoping for when they sent out their email on 12th October 2017 announcing “CRIMINAL PROSECUTIONS HAVE BEEN COMMENCED “. A lot of directors and presenters started asking “what was the chances of them or their companies being prosecuted by the CRO?” Even the title of the email was