The slightest mention of the Companies Act 2006 to fellow
practitioners can draw a pained expression. The reasons range
from the sheer size of the statute and getting to grips with
the underlying legislation (typically European directives) that
the 2006 Act has implemented, to the fact that most of us have
got to know the Companies Act 1985 very well, and teaching old
dogs new tricks is hard to do.
The overall objective behind the 2006 Act was to simplify
and modernize English company law so it meets today's business
needs and provides flexibility for the future; which is
incredulous when you consider that the statute consists of
1,300 sections. Other objectives included the desire to make it
easier to set up and run a company and enhance shareholder
Whilst the 2006 Act has introduced a lot of quite sensible
provisions in pursuance of these objectives (such as...