Modernising UK Company Law
A modern legislative framework with clear and simple rules is vitally important to UK competitiveness.
The previous company law regime had become outdated and imposed an expensive burden, in particular on small businesses.
The DTI first issued proposals for a new company law framework in 1999, to introduce a modern framework for ensuring effective governance, transparency and accountability.
The Companies Act 2006 (originally the Company Law Reform Bill), received Royal Assent on 8 November 2006.