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New law: Government defers abolition of corporate directors

The law allowing one limited company to be a director of another was due to be abolished in October 2016 (subject to certain exceptions) but this has now been deferred to a date yet to be determined.

Legal Alert

This update was published in Legal Alert - October 2016

Legal Alert is a monthly checklist from Atom Content Marketing highlighting new and pending laws, regulations, codes of practice and rulings that could have an impact on your business.

This will give the Government more time to reconsider the exceptions – the circumstances in which corporate directors will still be allowed.

Companies likely to be affected when corporate directors are eventually abolished include companies within groups, companies acting as trustees and companies set up for overseas individuals/companies for tax reasons.

Operative date

  • Now

 

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