Unquoted company definition

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Legal and regulatory framework

Legal and regulatory framework The Panel on Takeovers and Mergers (Panel) This Practice Note is part of the Corporate toolkit for public company takeovers. It deals with the legal and regulatory issues that will need to be considered at the outset of a takeover. For a more detailed overview of the Panel and the regulatory framework for takeovers, see Practice Notes: The Panel and the regulatory framework of takeovers and Schemes of arrangement—nature and key statutory requirements. The takeover of a public company in the UK is regulated and supervised by the Panel, whose activities were placed on a statutory footing as a result of the implementation in the UK of the Takeover Directive. Chapter 1 of Part 28 of the Companies Act 2006 (CA 2006) sets out the Panel's statutory functions and powers, which include the power to make rules for the regulation of takeovers, mergers and other transactions that have or may have effect on the ownership or control of certain companies in the...

Company and Companies House notifications on an auditor ceasing to hold office—non-public interest company

Company and Companies House notifications on an auditor ceasing to hold office—non-public interest company Background There are statutory provisions relating to the notices and statements required on an auditor ceasing to hold office. Section 18 and Schedule 5 of the Deregulation Act 2015 (DA 2015), which came into force on 1 October 2015, made a number of changes in relation to auditors, which include provisions dealing with the notices and statements required on an auditor ceasing to hold office. These provisions have effect in relation to financial years beginning on or after 1 October 2015. For the purpose of the notices and statements required on an auditor ceasing to hold office, the DA 2015 amended the Companies Act 2006 (CA 2006) to make a distinction between public interest companies and non-public interest companies (each being treated slightly differently), rather than the distinction between quoted companies and unquoted companies (again, each being treated slightly differently) which applied before the DA 2015 amended the CA 2006. This Practice Note...

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Board briefing note—environmental reporting—unquoted companies

Board briefing note—environmental reporting—unquoted companies Memorandum prepared by [Name of Firm] For the directors of [insert company name] (the Company) advising on annual environmental reporting 1 Scope This memorandum summarises the main environmental disclosures that the Company is required to include in its annual reports and accounts. It discusses the Companies Act 2006 (CA 2006) requirements to include climate-related disclosures aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the requirement to report on greenhouse gas (GHG) emissions, energy use and energy efficiency actions under the Streamlined Energy and Carbon Reporting (SECR) regime and other environmental legislation[, and relevant principles and provisions from the QCA Corporate Governance Code (QCA Code) and the Wates Corporate Governance Principles for Large Private Companies (Wates Principles)]. It also includes practical tips for companies in preparing environmental disclosures. [As an AIM company, the Company is subject to ongoing disclosure obligations under the AIM Rules, the Disclosure Guidance and Transparency Rules and the Market Abuse Regulation, which may involve the...