Progress of the Small Business, Enterprise and Employment Bill

As the Small Business, Enterprise and Employment Bill (SBEE Bill) progresses to the report stage in the House of Commons,  Eleanor Kelly, solicitor in the Lexis®PSL Corporate team, discusses the latest developments.

The SBEE Bill completed the committee stage in the House of Commons on 6 November 2014 and a new version of the amended SBEE Bill has been published.

There have been a number of amendments, including to:

  • clause 76 (the requirement for all company directors to be natural persons)
  • clause 79 (shadow directors—provisions have been inserted to amend the definitions of 'shadow director' in the Insolvency Act 1986 and the Company Directors Disqualification Act 1986 to ensure consistency with the definition in the Companies Act 2006, s 251 which is also being amended by this clause of the SBEE Bill)
  • clause 80 (delivery of a confirmation statement)
  • clause 86 (clarification on the commencement of a 'review period' regarding the annual confirmation of accuracy of information on the register), and
  • Schedule 3 (information about people with significant control)

All of the amendments are detailed in the transcript of the Committee Debate: 12th sitting.

The report and third reading stages are expected to take place on Tuesday 18 November and Wednesday 19 November 2014.

Track the progress of the SBEE Bill directly on Parliament's website.

 

 

Filed Under: Corporate Law

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