SBEE Act 2015 Update

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SBEE Act Update: Implementation dates

Companies House has published updated provisional implementation dates for some of the company transparency and filing provisions set out in Parts 7 and 8 of the Small Business, Enterprise and Employment Act 2015, which BIS has confirmed are correct:

  •             PSC register. Companies are expected to be required to keep the register of people with significant control from April 2016 (previously January 2016), in preparation for the need to file this information at Companies House from 30 June 2016 (previously April 2016).
  •             Confirmation statement. The obligation to file a confirmation statement, replacing the annual return, is expected to come into force in June 2016 (previously April 2016).
  •             Statement of capital. The changes to the statement of capital are expected to take effect in June 2016 (previously April 2016).
  •             Company registers. The provisions under which companies will be able to opt to keep information in their registers on the public register at Companies House are expected to come into force in June 2016 (previously April 2016).
  •             Director disqualification. The amendments to the director disqualification regime are expected to come into force in June 2016 (previously April 2016).
  •             Filing optional information. It is expected that companies will be able to supply additional voluntary information to Companies House under regulations made under section 95 of the Act in late 2016/2017 (originally April 2016).

The prohibition on corporate directors is now expected to come into force in October 2016 (originally scheduled for October 2015), and the provisions relating to registered office and director disputes in December 2015 (also originally October 2015). The measures to suppress the day element of the date of birth of directors (originally April 2016) and the provisions to amend the strike-off process are expected to come into force in October 2015.

The replacement of the director’s consent to act procedure is also scheduled to come into force in October 2015.

 

The content in this article is intended to provide a general guide to the subject matter, and does not constitute legal advice. Contact us for specific advice about your circumstances. This article is based on a legal update resource by Practical Law published on 26th August 2015.

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