Company law after SBEEA 2015

Company law after SBEEA 2015

Corporate analysis: How will the Small Business, Enterprise and Employment Act 2015 affect small businesses and entrepreneurs, and will it be effective in removing red tape and promoting transparency in the ownership and control of companies? Chris Pearson, a senior corporate partner at Norton Rose Fulbright, and Jo Chattle, senior knowledge lawyer at Norton Rose Fulbright, explain some of the changes and reforms that will now be a part of company law.

Original news

Small Business, Enterprise and Employment Act 2015,

LNB News 27/03/15 128

What has been the reaction to SBEEA 2015 since it received Royal Assent?

There was relatively little reaction when SBEEA 2015 received Royal Assent on 26 March 2015. This is largely a result of both the length of the lead-in time to SBEEA 2015

receiving Royal Assent, and the fact that its provisions affecting companies are coming into effect in stages.

The government’s first discussion paper which raised many of the corporate aspects was published in July 2013, following the June 2013 G8 Summit at which the UK, as chair, committed to introducing transparency reforms in relation to company ownership. A number of consultation papers on different corporate aspects of SBEEA 2015 followed and so there has been time for companies and their advisers to familiarise themselves with the new requirements.

What company law reforms are coming into force in May 2015?

Two corporate aspects of SBEEA 2015 come into force in May 2015. The first concerns the abolition of bearer shares (or share warrants as they are referred to in SBEEA 2015). The second is the extension of the general statutory duties that apply to directors under the Companies Act 2006 (CA 2006) to shadow directors, being those people who are not formally appointed as directors but are people ‘in accordance with whose directions or instructions the directors of

Subscription Form

Related Articles:
Latest Articles:

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login

About the author:
Jenisa is Head of Market Tracker, a transaction analysis product that sits within Lexis®PSL Corporate. She has over 13 years of legal publishing experience, with a focus on researching and reporting on trends and developments in the corporate and commercial legal market. Previous roles include content developer for Lexis®PSL, Legal Podcaster at Informa, and Research Editor at Practical Law Company where she specialised in reporting on cross-border corporate and commercial developments from the firm’s New York office.