Companies act 2006: the impact on directors - update

July 2007

Implementation timetable

2007/2008

20 January 2007	Transparency Directive provisions in the new Disclosure and Transparency Rules Directors’ safe harbour from liability for misleading statements
1 February 2007	GC100 guidance on directors’ duties
28 February 2007	Ministerial statement on implementation Consultation on transitional provisions and on secondary legislation
Effective 6 April 2007	Repeal of: disclosure of share dealings by directors and their families maximum age limit for directors
1 October 2007	Implementation of: Part 10 relating to directors’ (other than provisions relating to directors’ conflicts of interest, directors’ residential addresses, the register of directors and underage and natural directors – effective 1 October 2008) Derivative claims Expanded business review
1 October 2008	Implementation of: Part 10 relating to directors’ conflicts of interest, directors’ residential addresses, the register of directors and underage and natural directors*

Note

* Companies without a natural person as a director on 8 November 2006 will have until October 2010 to appoint at least one natural person as a director.

Disclaimer

This publication is written as a general guide only. It is not intended to contain definitive legal advice which should be sought as appropriate in relation to a particular matter.
Extracts may be copied provided their source is acknowledged.

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