Timetable for implementation

Lord Sainsbury made a statement to the Lords on 2 November 2006, explaining when the Act will come into force.  The extract from Hansard covering the statement is available on the Parliament website (column 432).

The Companies Act is a piece of primary legislation that, once brought into force, will largely apply to companies directly. However, a number of provisions will need to be set out in secondary legislation - mainly in regulations or orders made by statutory instrument.

There are a number of powers in the Act to make secondary legislation, not all of which the government intends to exercise on commencement of the Act. Where powers in the Companies Act 1985 have been restated in the Bill, work is ongoing to look at whether existing statutory instruments made under the 1985 Act should remain as they are or be amended or replaced.  We will consult in February 2007 on our detailed implementation plans, which will include some of the provisions for secondary legislation.

Draft Model Articles for Public Companies

Draft model articles for public companies were published  on 9 June 2006 for a short period of consultation.  This is a first draft of the model articles for public companies that the Secretary of State will prescribe under clause 19 of the Bill.  A draft of the model articles for public companies is being published now with a view to getting some initial feedback on the form and substance of the draft from interested parties. The deadline for comments was 30 August 2006.

Draft model articles of association for public companies.   (92Kb)

Company Law Reform Bill: draft model articles for public companies Q & A.   (8Kb)