What is left behind in the 1985, 1989 and 2004 Acts

Frequently asked questions


What parts of the non-company law of the Acts will remain?

  • Some Scots Law provisions, which are now devolved to the Scottish Parliament, and which are being replaced by the Scottish Parliament.
  • Provisions about the Financial Reporting Council which are about the operation of that body and its subsidiaries, not about how companies generally conduct themselves
  • Provisions about assisting overseas regulatory authorities, about financial markets, about the Financial Reporting Review Panel, and about insolvency all of which relate more to financial services law than company law.

Back to Top


What is left behind in the 1985 Act?

  • Company Investigations
  • Orders imposing restrictions on shares following an investigation
  • Provisions about Scottish floating charges and receivers

Back to Top


What is left behind in the 1989 Act ?

  • Powers to require information and documents to assist overseas regulatory authorities.
  • Provisions about Scottish incorporated charities.
  • Amendments and savings consequential upon the changes in the law made by the 1989 Act.
  • Provisions about financial markets and insolvency.

Back to Top


What is left behind in the 2004 Act ?

  • The provisions extending the functions of the Financial Reporting Review Panel (FRRP) to interim accounts and reports.
  • Provisions about the financing and liability of the Financial Reporting Council (FRC) and its subsidiary bodies.
  • Community interest companies.

Back to Top


What provisions do not have a place in the new comprehensive statement of company law in the Act?

  • Investigations can go beyond companies to cover other types of organisation.
  • The Scots law provisions left behind are now devolved to the Scottish Parliament.
  • The provisions about assisting overseas regulatory authorities, about financial markets and insolvency and about the FRRP relate more to financial services law than company law.
  • The provisions about the FRC are about the operation of that body and its subsidiaries, not about how companies generally conduct themselves.
  • The provisions about community interest companies form a complete code which is additional for company law and sits alongside it rather than forming part of it.

Back to Top