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Fair Value Accounting
Consultation on the Use of Fair Value Accounting
for Certain Financial Instruments and Disclosure of
Dividends by Companies and Other Undertakings.
The consultation document seeks views on proposals
for implementing the Fair Value Directive (2001/65/EEC)
on the use of fair value accounting for certain financial
instruments in the Companies Act 1985 regarding the
disclosure of proposed dividends. The consultation document includes draft Regulations to make
the proposed changes to the Companies Act 1985.
The consultation on the 'Fair Value Accounting' closed
on the 5 September 2003.
The document can be viewed or downloaded by clicking
here 
(1302 Kb).
The Small Business Summary is available here
(65 Kb)
A Summary of Response is available here
(232 Kb). The Government will be taking forward
measures to implement the Fair Value Directive in
Autumn 2004.
To view the Regulatory Impact Assessment (RIA) click
here
European Company Law: Draft Directive
on Cross-Border Mergers Consultation
Consultation seeking views on Draft Directive applying
to companies with share capital from different Member
States and establishing common rules across the EU
governing cross-border mergers. A copy of the
consultation document is available here
 (158Kb). The consultation closed on
20 September 2004.
A summary of responses is available here.
The Government's response to the consultation was
made on 16 November 2004 in a written Ministerial
Statement to the House of Commons by Industry Minister,
Jaqui Smith. This may be viewed here.
Director and Auditor Liability
Consultation seeking views and objective evidence
on issues relating to director and auditor liability.
To view the document click
here
(132Kb).
Copies can also be obtained from DTI Publications
Orderline ADMAIL 528 London SW1W 8YT (telephone 0800
1502 500 or fax 0870 1502 333 or e-mail publications@dti.gsi.gov.uk).
The Govenments Written Statement to the house of Commons
can be viewed here.
Implementation of the European Company Statute - the
European Public Limited-Liability Company Regulations
2004
Consultative document seeking views on the application
in Great Britain of the European Company Statute (ECS).
The ECS creates a legal framework for a new form of
company, the European Company or 'Societas Europaea'
(SE), and consists of a Regulation (setting out the
core company law framework) and a linked Directive concerning
employee involvement in SEs.
The results of the consultation, together with revised
Regulations, were published on 8 July 2004
The European Public Limited-Liability Company Regulations
were laid before Parliament on 13 September 2004 and
came into force on 8 October 2004. The Regulations
(SI 2004/2326) are available from The Stationery Office
(TSO) and may, along with the Explanatory Memorandum
for Parliament on the 2004 Regulations, be viewed
at the TSO website http://www.legislation.hmso.gov.uk/stat.htm#2004
International Accounting Standards
Consultation on the extension of the application
of the EU Regulation on International Accounting Standards.
The consultation document seeks views on whether
the Regulation should be extended to the individual
accounts of publicly traded companies and the accounts
of non-publicly traded companies. It also seeks views
on whether there should be a delay in applying the
Regulation until 2007 in two specific cases, and whether
companies should be allowed to use international accounting
standards before 2005.
The consultation closed on 26th November 2002. The
document can be viewed
or downloaded by clicking here (525Kb).
Copies are also available from iasconsultation@dti.gsi.gov.uk
or from the iasconsultation line on 020 7215 0232.
For details of the Government's announcement click
here.
On the 25 th March 2004 the Governement published
a consultation document on implementing the IAS Regulation.
You can dowload a copy by clicking here
( 640 Kb).
To view the Summary of Response please click
here
Regulations to implement the IAS Regulation,
the Accounts Modernisation Directive and the Fair
Value Directive.
Regulations to exercise Member State options in,and
give full effect to, the IAS Regulation and to implement
the Accounts Modernisation Directive and the Fair
Value Directive.
For the details of the Governments announcement please
click here
Summary of Responses please click
here
To view Regulatory Impact Assessment (RIA) on the
Internetional Accounting Standards Regulation please
click here
To view Regulatory Impact Assessment (RIA) on the
Modernisation Directive please click
here
To view Regulatory Impact Assessment (RIA) on the
Fair Value Directive please click
here
Director's Home Addresses
In May 2001 the Criminal Justice and Police Act 2001
received Royal Assent. Section 45 of the Act amends
the Companies Act 1985 and provides that the Secretary
of State may grant a Confidentiality Order where she
is satisfied that the availability for inspection
by members of the public of a director's home address
creates, or is likely to create, a serious risk that
the individual, or person who lives with him, will
be subjected to violence or intimidation. The amendments
to the Companies Act 1985 also include a number of
provisions which may be implemented through regulations
and the details of the new system are set out in regulations
which came into force on 2 April 2002. A press notice
setting out details of the regulations and the contact
point for further guidance and for application forms
may be viewed here (14Kb).
This Press Release is also available in Word
Format  (29Kb).
A consultative document issued in October 2001 seeking
comments on the then draft regulations may be viewed
here (158Kb). A summary
of responses may be viewed here Summary
of Responses (56Kb);
this summary is also available in PDF
format(30Kb).
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