Commentary

15.3 The ongoing cost of statutory compliance

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

15.3 The ongoing cost of statutory compliance

| Commentary

15.3 The ongoing cost of statutory compliance

Part of the price which business proprietors pay for the benefits of limited liability (and the other advantages of running the business through a separate legal personality) is a much higher degree of statutory regulation. The main source of this regulation is the Companies Act 2006. The company regime includes a considerable number of regulatory and reporting obligations which are backed up by criminal sanctions which may be imposed upon companies and their officers in default1. Although the main focus of this regulatory regime is limited liability companies, the rules have been extended

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