Disclosure of persons of significant control
Any attempt to simplify and remove hurdles to proper corporate governance will usually be applauded by us — it’s a common complaint from our clients that they want to focus on running their businesses, not spend countless hours dealing with company paperwork. Presented to Parliament on 25 June 2014, the Small Business, Enterprise and Employment Bill appears, at first blush, to be consistent with the government’s objective of removing red tape and improving transparency.
Some unarguably worthwhile changes include the abolition of bearer shares (the instrument of choice for the shady), requiring existing bearer shareholders to surrender their shares to the company in exchange for registered shares and the prohibition of UK companies using corporate directors…
Click on the link below to read the rest of the Kemp Little briefing.
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