The following Corporate practice note provides comprehensive and up to date legal information covering:
A dormant company is constituted and managed in the same way as any other company. However, the requirements relating to accounts and audit that generally apply to a company are relaxed in relation to a dormant company.
The Companies, Limited Liability Partnerships and Partnerships (Amendment etc) (EU Exit) Regulations 2019, SI 2019/348 and the Accounts and Reports (Amendment) (EU Exit) Regulations 2019, SI 2019/145 amend the various definitions contained in the CA 2006 for a ‘traded company’.
CA 2006, s 474(1) currently defines a ‘traded company’ for the purposes of Part 15 as being a company any of whose transferable securities are admitted to trading on a regulated market for the purposes of Part 15. This is limited to UK regulated markets after the end of the Brexit implementation period (IP completion day).
However, and noting the potential for confusion, various sections in Part 15 (eg, CA 2006, ss 420(1), 430(8), 439(1A), 439A(8)) cross-refer to the CA 2006, s 360C definition of traded company which post IP completion day includes UK regulated markets and EU regulated markets.
Other changes include, as regards the exemption for dormant subsidiaries referred to below, references to the ‘EEA’ or ‘EEA undertaking’ in sections 394A or 394C of the Companies Act 2006 being substituted with ’UK’ and ‘UK undertaking’ as required under the Accounts and Reports (Amendment) (EU Exit) Regulations
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This Practice Note deals with the relationships arising between principals, agents and third parties with whom the agent deals on the principal’s behalf. It considers the principal’s liability for its agent, agent’s authority including remedies for breach of authority, fraud and misrepresentation,
This Practice Note provides guidance on the SRA Codes of Conduct, contained in the SRA Standards and Regulations, in force from 25 November 2019. The SRA Standards and Regulations include two Codes of Conduct—a Code forSolicitors, RELs and RFLs and a Code for Firms. The Standards and Regulations
This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of
What is 'discontinuance'?Discontinuance is the means by which a claimant can bring all or part of the proceedings it has instigated to an end.A claimant has a right to discontinue all or part of a claim at any time.Where proceedings are brought to an end without an order or judgment from a court, eg
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