By Stuart Young, Anurag (Ragi) Singh
Every business involved in UK automotive is organised into some form of corporate entity which, usually, provides limited liability to its owners and a clear control structure through the board of directors. UK company law has developed closely with EU law over the last 40 years and is very unlikely to change radically once Brexit occurs. We will look at areas that might be ripe for change following Brexit and assess how these may impact businesses and what should be done now to plan for the future.
As with many areas of law in the UK, our company law has been heavily influenced by our membership of the EU and the wish to ensure that member states have similar regimes for the existence of companies and other trading bodies.